bcapehart
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Posts: 41
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Re: Patent Litigation Insurance
« Reply #1 on: Dec 11th, 2007, 12:33pm » |
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Most E&O policies specifically exempt IP claims from coverage. Most companies do not provide this type of coverage due to the risk of high damages. (It only takes one $10 million verdict to ruin the end of year bonuses)
If a company would like a rider that provides for such coverage, they should be aware that such coveage is expensive. Coverage is out there. Your clients could start by talking to their agent of their current E&O provider. If they don't provide this type of coverage, ask the agent for recommendations.
I'm assuming your clients would be insterested in IP litigation insurance from a defensive position. While some companies would like to have insurance in the event that their super-hot, patented technology is infringed, such coverage is rare and much more expensive than coverage from a defensive position.
If you have any questions, let me know.
I hope this helps.
Brent
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