Insurer Accuses Ex-Partner Of Stealing £39M Trade Secrets

Law360, London (March 22, 2021, 6:25 PM GMT) -- A Gibraltar-registered insurer says it is owed at least £39 million ($54 million) from Marshmallow Financial Services, accusing the company of stealing trade secrets to set up a direct competitor.

Mulsanne Insurance Company Ltd. alleged in a High Court claim made public on March 11 that Marshmallow stole confidential information used to price motor and rate insurance policies to set up its own rival insurance arm, Marshmallow Insurance Ltd.

Mulsanne says that Marshmallow received access to its unique data model in 2018. The two sides signed a business agreement that year for Marshmallow to promote and distribute a new motor insurance...

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