Client Profile
Industry: Real Estate
Specialty: Manager of Commercial Real Estate Properties​
Location: Connecticut
Claim Information
Description: One of our Insureds discovered that several hundred images on their website were unknowingly being used without the proper permissions. The rightful owners of the images issued a cease-and-desist letter and the Insured immediately started working to take down the images. However, despite having made some progress on removing all of the images, the owner filed suit and the Insured incurred legal expenses and losses to resolve the litigation; Importantly, the Insured did not admit to any knowing or willful wrongdoing. Through their Captive's Actual Net Loss Insurance Policy "Intellectual Property" coverage, they were able to recover these expenses.
Line of Coverage: Intellectual Property
This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $110,000.