IBM Ordered To Pay UK Insurer £13M Over IT Project Delays
Law360, London (February 19, 2021, 7:13 PM GMT) -- Britain's Co-operative Insurance is set to recoup £13 million ($18.2 million) in damages from IBM, after a London judge granted the underwriter just a fraction of the £130 million it sought for delays building an IT system.
Judge Finola O'Farrell found on Friday that CIS General Insurance Ltd. can recover £15.8 million in wasted costs from the tech giant caused by delays to a new information technology system. The High Court agreed that IBM had breached its contract with CIS General by failing to accurately problems with the project.
However, she dismissed or excluded three other alternative claims seeking higher damages. Friday's...
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