This year’s Leading the Way conference and exhibition organised by the British Insurance Brokers’ Association (BIBA) is shaping up to be a packed event as ever, with the likes of International General Insurance Holdings Limited (IGI) announcing it will be introducing new offerings at the annual gathering.
IGI, which will be at Stand B60, has expanded its portfolio with the addition of intellectual property (IP) insurance to complement the specialist commercial (re)insurer’s legal expenses proposition. The first day (May 15) of BIBA 2019 will see the launch of IGI’s new class of business.
“Having this insurance allows businesses to maintain strength of brand when differentiating their product offering from those of the competition,” noted legal expenses underwriter Jo Green (pictured).
“By providing bespoke coverage and limits of indemnity, IGI can also help businesses to access and compete in international markets alongside larger competitors with greater resources.”
Aside from offering wide protection for patents, trademarks, copyright, design rights, and IP-related contractual liabilities, the product will also cover the legal costs and damages for IP infringement and enforcement actions.
“IP insurance will help in safeguarding UK business post-Brexit,” added Green. “Deal or no deal, IP insurance supports innovation.
“It provides peace of mind to those who own, trade, or license their creations by allowing businesses to exploit their IP in the knowledge that they are insured if they need to defend allegations of infringement or enforce their IP rights against an infringer.”
