October 18, 2024

An Introduction to IP Insurance: An Essential Coverage For Businesses In An Evolving Risk Landscape

Insights London Market
Risk Appetite

Did you know that up to 90% of the value of any business is now held in intangible assets?

In today’s online world, protecting a company’s intellectual property (IP) has never been more crucial. In our short video, Ian Lewis, Head of Intangible Assets provides an overview of the protection provided through IP insurance, the type of businesses that would benefit from the coverage and why it’s such an important type of insurance in an ever-evolving risk landscape.

Key Takeaways:

  1. Comprehensive Coverage: Designed specifically to protect insureds against the substantial costs and losses that can arise from IP-related disputes, IP insurance covers all forms of intellectual property rights, including copyrights, trademarks, patents, and trade secrets.
  2. A Universal Risk: You don’t need to own IP to have an IP exposure. Any business that creates, manufactures, offers, or delivers goods or services could potentially face IP infringement claims – from startups to mature businesses.
  3. Financial Protection: With IP litigation costs often running into millions of dollars, IP insurance provides a crucial financial safety net, preventing disruption to business operations.
  4. Tailored Solutions: IP insurance can be customised to meet the specific needs of each insured, offering flexibility and targeted protection.
  5. Insurance As A Business Enabler: Beyond financial security, IP insurance can help support contract negotiations, expansion into new markets, and provide access to expert legal counsel.

Check-out our 4-minute video to find out more.

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