Hidden IP Risks Void $2M Policy, Travelers Says

Law360, New York (May 18, 2011, 12:15 PM EDT) -- Travelers Property Casualty Co. of America hit Webs Inc. with a lawsuit in Maryland on Tuesday seeking to rescind a $2 million insurance policy issued to the Internet hosting company, which allegedly concealed intellectual property risks over counterfeit watches.

Travelers contends that, in applying for a CyberFirst-brand policy, Webs didn't mention that Rolex Watch USA Inc. had notified the company that a site under its umbrella was selling counterfeit watches or that the U.S. Department of Justice had slapped it with a subpoena seeking information over...
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