For many businesses, much of their value lies in what makes them unique. That’s why we believe it’s vitally important to protect the patents, trade marks, copyrights, and other intellectual property that makes your business competitive and successful. Designed with small and medium-sized businesses in mind, our intellectual property policy covers the defence and pursuit of intellectual property infringement claims, which can be catastrophic for any business. Key features include:
Patent Infringement Liability
Our policy covers the defence of patent and all other IP infringement claims being brought against you, including legal costs, damages, settlements and counterclaims.
Contractual Indemnities Cover
This vital cover for contractual indemnities enables business by allowing smaller companies to sign up to contracts with larger customers and meet their high demands.
Pursuit of Infringers
Companies spend a great deal of time, energy and money developing their intellectual property. We believe that this significant investment should be protected and therefore cover the costs associated with enforcing rights if someone infringes a valid right and it has a commercial impact.
Loss of Profit Cover
Cover for loss of profits can be critical for small and medium-sized businesses with only a single or a small handful of product lines. In the event that you lose an infringement case and it results in an injunction against you, this policy can cover for your resulting loss of profits for up to 12 months.
Loss of IP Right Cover
Investment in intellectual property costs a great deal. If a right is invalidated as a consequence of infringement action, this policy can repay that investment allowing your company to move onto the next project.
No one wants to read 100 pages of incoherent insurance jargon. That’s why our intellectual property policy wording is clear and concise, so you know exactly what’s covered. Although it is less than 10 pages long, you can rest assured that it still offers widereaching cover.
Exceptional Service Levels
Obtaining IP cover has traditionally been a lengthy and time-consuming process. Our experienced team, however, aim to quote and bind policies within 5 business days as long as we have all the information we need.