Insurance brokers have a wealth of supplies at their disposal. Adding to the multitude of assets is CFC Underwriting, which has revealed a free-to-download guide to mental property (IP) insurance on its web site.
“As technology has revolutionised nearly every industry, IP has become one of the most critical assets for today’s modern businesses with many relying on either IP or intellectual capital in their people,” famous IP observe chief Erik Alsegard when the specialist insurance supplier launched the guide. “As the value of IP has increased, so have the risks for most companies.”
Alsegard additionally conceded that IP insurance is a “relatively new area” for a lot of brokers, and that’s the reason the CFC guide consists of tips about how they’ll begin the dialog with shoppers. It additionally options claims examples exhibiting how an IP coverage would reply.
According to CFC, it has the biggest devoted IP insurance underwriting staff in London. Its new useful resource breaks down the topic of mental property into what IP really is, what the chance exposures are in addition to the protection supplied by IP insurance, and even the frequent misconceptions surrounding the product.
“The number of IP disputes that have hit the headlines represent just the tip of the iceberg,” added the observe chief. “While the likes of Apple and Samsung can afford to pursue prolonged patent infringement circumstances, smaller companies usually lack the assets to correctly tackle or defend themselves.
“Many corporations have IP exposures however don’t realise they’ll purchase insurance for it or defend themselves in opposition to allegations. Simply citing the subject of IP insurance can set a dealer aside – and our guide is designed to assist them.”