Intellectual Property » Infringement Liability Coverage

Intellectual Property Infringement Liability Insurance protects against the potentially ruinous damages, settlements or defense costs involved in Intellectual Property infringement liability actions. The coverage we offer includes the following features:

• Coverage for damages and defense costs for IP infringement actions (including patent)
• Worldwide cover available
• $10m aggregate Limits of Indemnity
• Claims Made and reported form
• Optional extension for Contractual Indemnities to customers and distributors
• Optional extension for Directors & Officers
• Optional extension for Extended Reporting Period
• Optional extension for Open Source matters
• Optional extension for Trade Secret matters

Upon review of a completed Non-Binding Indication form underwriters should be able to issue a fairly accurate estimate of terms. If you would then like to proceed with obtaining a formal quote, the carrier would require the following:

• Fully completed signed and dated application form
• Details of the products / services to be insured
• A list of all IP rights owned by the applicant
• Copies of any “in or out” license agreements
• Copies of any infringement clearance report

Upon receipt of this information underwriters would undertake an assessment and evaluation of the applicant's products and supporting Intellectual Property Rights. A detailed Underwriting Risk Review is required for a formal, bindable premium quotation. This review is subject to a one-time non-refunable administrative fee, payable in advance. The fee is usually in the range of $3000 - $5,000 for standard risks.