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Intellectual Property

Is insurance coverage available to protect my intellectual property?

E-commerce has entered the mainstream of international business and is growing rapidly. Success in this marketplace is based on the ingenuity and development of new processes and applications. Competition is fierce to be the first to develop and sell new products and ideas.

E-commerce has entered the mainstream of international business and is growing rapidly. Success in this marketplace is based on the ingenuity and development of new processes and applications. Competition is fierce to be the first to develop and sell new products and ideas.

In this environment, property claims involving infringement of patent, copyright and trademark are being filed and litigated at a tremendous cost to both parties. Few standard insurance policies protect businesses from loss or damage to their intellectual property. However, a growing range of policies aimed specifically at intellectual property is becoming available.

Two types of coverage are available and can be written separately or in combination with the other. Various limits, deductibles and co-insurance options are available as well:

Infringement (Defense Cost Reimbursement) Coverage reimburses you for your legal expenses when you must defend yourself against intellectual property infringement lawsuits.

Abatement (Enforcement) Coverage provide litigation expenses incurred in enforcing the insured intellectual property (patents, trademarks, and/or copyrights) against infringers up to the policy limit.

This area of insurance is both complex and expensive and requires consultation with both legal and insurance professionals to determine whether this coverage is appropriate for your business.

contact us

Anchor Agency, Inc.
Pioneer Plaza
652 Albany Shaker Road
Albany, NY 12211

Phone - 518.730.3200
Fax - 518.730.3199
Email - info@anchoragency.com
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