Frequently Asked Questions
IP Enforcement Insurance
1. Can patent applications be covered?
Yes, as can trade mark applications and design registrations.
2. Will insurers insist on an external review of my IP rights?
Not normally. In some circumstances insurers may request an external opinion on a particular patent or patent family. However, it is more common for such surveys to be requested for risks domiciled in the USA.
3. What information do you need from me to give a quote?
We will require a fully completed signed and dated Proposal Form along with details of all IP rights to be insured, including one copy of a full patent specification for each patent family to insured. In the case of trade marks, designs and internet domain names we will require a full listing of all names and logos etc. to be insured. In the case of Copyright, we will need to understand the type of works you wish to insure and the size of your portfolio. Where relevant a copy business plan and results of patent application and non-infringement searches or other reports on the IP will also be required.
4. Is there a retroactive date?
Not normally. The policies operate on a claims made basis and can cover all IP rights and agreements that are in application or granted prior to inception of the policy, providing they have been declared to and accepted by us. Some policies may however have a retroactive date.
CIRCUMSTANCES WHICH ARE IN EXISTENCE OR WHICH MAY GIVE RISE TO A CLAIM UNDER THE POLICY THAT ARE KNOWN AT THE TIME OF INCEPTION WILL NOT BE COVERED.
5. Can I choose my own lawyers / representatives?
In many cases the answer is yes. There may be certain instances where this is not possible but, in any event, the choice of representative is subject to our approval. We will want to ensure that the chosen firm is experienced in the type of dispute. We will usually accept your patent agent or trade mark agent as a representative.
6. Does the policy have a co-insurance?
Not as standard. We may apply a co-insurance as a condition of our terms, but this is usually only where we see an increased exposure.
7. Do the policies have an "Economic Benefit" Clause?
Not in general. In the event that a client were successful in their action and recovers costs, expenses and or damages, the policy requires that all legal fees and disbursements be refunded, but in no case will such reimbursement exceed the sums recovered by or awarded to the insured. We will not seek to profit from the litigation.
8. Can applications be made to underwriters in any language?
No. Applications can only be made in English. Likewise, supporting documentation (other than patent literature) must also be in English.
9. Are there any examples of claims that I can look at?
Yes. Case Examples will be available here shortly.
