Lloyd’s-accredited insurance broker G&M International has just announced the addition of Intellectual Property (IP) insurance to its growing product portfolio. The new IP-focused cover has been designed to protect clients’ intangible assets (ie ideas, designs, logos, patents and more) from potential infringement caused by competitors.
A recent study conducted by the UK Intellectual Property Office highlighted the fact that only 28% of companies actually check to make sure they’re not infringing others’ IP rights, while 96% of UK companies have not valued their Intellectual Property. IP cover is therefore more important now than ever before.
With many businesses increasing their global marketplace, IP cover offers a distinct security measure when moving into new territories, enabling business and opening up new opportunities.
G&M International director Philip Wildman informed Risk Xtra: “More and more businesses are realising the importance of protecting their Intellectual Property and our insurance solutions offer that peace of mind. We understand that every business has different needs, which is precisely why we work closely with our clients to find a tailored solution which best suits them. Through our partnership with expert consultants at the Intellectual Property Insurance Services Corporation we can help to identify the risk areas a business may not have considered.”
The Intellectual Property cover, which is available to businesses in markets right across the globe, will provide cover for collateral protection, IP business interruption and more. Further details are available here.
Part of the General & Medical Group, G&M International is a long-established player in the provision of specialist insurance services to businesses and professionals both within the UK and internationally. The company enjoys access to the full market enabling it to support a worldwide client base with specialist and niche schemes.