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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.
| Description |
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| Samian IP Infringement Liability Non-Binding Indication Form |
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