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Breach of confidentiality: keeping insurance information secret

This recent decision illustrates that the courts will protect sensitive pricing information and models associated with insurance product pricing. Australian Insurance Holdings Pty Ltd (AIH) successfully sought an interlocutory injunction preventing an ex-employee from working for a competitor in certain defined roles.

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Can you restrain a financial services provider?

It has become commonplace for insurance broking firms to insert “restraint of trade” provisions into employment contracts in an attempt to prevent ex-employees taking “their book” with them to a new employer. A recent New South Wales Supreme Court decision provides useful guidance on the courts’ approach to such clauses.

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