Guide allows brokers to demonstrate how IP policies work in practice.
CFC has launched an intellectual property (IP) insurance guide for brokers.
The guide includes tips on how brokers can broach IP issues with their clients, as well as examples on how to demonstrate how IP policies work in practice.
This covers the value of IP to a company, the risk exposures it introduces, the cover IP policies provide, and some of the misconceptions about IP insurance.
The provider’s guide is free to download.
Erik Alsegard, IP practice leader at CFC, commented: “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.
“Allegations of IP infringement by competitors can have a severe impact on a business and patent trolls target businesses for a financial pay out. IP insurance can protect against these threats, but it is a relatively new area for many brokers.”
CFC claims it has the largest dedicated IP insurance underwriting team in London.
Outside of its educational offerings, it has been a busy year of product launches at the specialist provider.
In August 2019, CFC updated its product recall suite to include animal by-product contamination and protection against government plant suspension.
The previous month, it launched a risk management product for tech firms. The product included cyber risk rating reports, a breach monitoring service, and a cyber incident response plan builder.
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