Intellectual Property (IP) Insurance

Intellectual Property (IP) Insurance

Intellectual Property Insurance: vital protection for what is arguably your most important asset. Don’t leave your IP exposed, make sure you've got watertight IP insurance for your science & technology organisation.

You wouldn't hesitate to insure your office contents and other assets; it also makes good commercial sense to insure your Intellectual Property against infringement. Without insurance, the financial burden can be tremendous. An average patent law suit in the United Kingdom can easily exceed £250,000 (per side).

You can use our specialist Science & Technology IP insurance to:

  • Defend yourself against allegations of Intellectual Property (IP) infringement
  • Enforce your own Intellectual Property (IP) rights
  • Meet the costs of indemnifying a third party (e.g. customer or distribution partner) where you have a contractual responsibility to indemnify them against IP breach

What if...

  • A third party accuses you of infringing their patent - do you have £500,000 ready for the defence costs?
  • A third party infringes your patent - do you have the same amount ready to go after them in court?
  • A distributor is accused of IP infringement for distributing your product - and they turn to you to indemnify them? 
  • You're breaking into the North American market and a local competitor hits you with a law suit?

Intellectual Property (IP) Insurance includes:

  • Cost of defending your IP against infringement claims
  • Cost of pursuing an infringer of your IP
  • Cover wherever your IP is registered, including North America
  • Backing from expert insurers with rock-solid financial strength

Patent infringement can have a devastating impact on a firm’s finances and reputation. So an insurance policy that helps fund legal action against an infringer - or defence of a patent’s validity - adds significant value to your company. Merely having the insurance is itself a powerful deterrent to any potential infringer. 

Got a question? We're experts in insuring IP in the science and technology sector. Click here for a free, no-obligation quote.

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“The service we get from La Playa is faultless. You are a pleasure to work with.”

Technology client

 

Ready to work with us?

You can call us to talk more about your business on +44 (0)1223 200650 or +44 (0)20 3865 0149

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About La Playa Science & Technology

Specialist & Independent

Specialist & Independent

La Playa's specialist Science & Tech team can help you protect your business with smart, flexible, high-performance insurance - with a friendly human UI. We understand the risks and pressures you face - and we speak your language.  We’ll support you with great advice - helping you make good decisions for your business. 

In-house IFA

We also offer Business Protection (including Key Person Insurance) and Employee Benefits: a joined up approach with a team of advisers working for your best financial interests - all under one roof

Advice You Can Trust

…from an expert who understands you

Tech-based business is 24/7, global and borderless, exposing you to new risks and liabilities - often in unfamiliar places. As the law struggles to keep pace with technology, insurance can provide a real safety net if you fall foul of changing legislation.

  • Specialist insurance for science and technology
  • Independent professional advice
  • Relationship-based service: right beside you when you make a claim
  • “Can do” culture

Seamless insurance across UK and US

What does “Boutique Service” actually mean?
La Playa’s Personal Risk Concierge means:

  1. dedicated adviser so you can speak to the same person each time
  2. Careful listening to really understand your needs and priorities
  3. As much help as you need with completing forms to provide risk information
  4. A discreet and complimentary appraisal* of your property to assess the risks and ensure you have the right cover where you need it
  5. An independent market review - so you don’t have to shop around comparing policies, cover limits, risks covered and smallprint exclusions
  6. Careful monitoring of the insurers’ financial strength, claims and customer service
  7. An independent recommendation of the best policy for you - and, importantly, why
  8. Specialist policy wordings from underwriters who have demonstrated excellence and deep understanding of your risk exposures. We have analysed a wide range of policy wordings and have selected only the best for our panel. Our advisers have a deep working knowledge of these policies 
  9. An intelligently designed portfolio of protection across multiple asset classes and territories
  10. Advice on how best to manage your risks - to keep you safe but also to keep insurance costs down
  11. Expert guidance on valuations, security and risk management, and connecting you with specialist advisers and suppliers
  12. Direct phone, mobile and email access to your adviser for questions and advice. We aim to respond to emails within 60 minutes
  13. Policy documents emailed to you - no logins and passwords to remember
  14. An advocate beside you if you make a claim - thinking laterally to mitigate the impact, making useful connections to get you back up and running; driving through to a swift and fair financial settlement

Oh, and...

  • No call centres
  • No ‘hold’ music
  • No hidden fees

*subject to availability with our insurer panel

Photo from Science & Technology