Nuts & Bolts: Venture Programs Inc. introduced VIP Defender, designed to protect product manufacturers from claims brought against them for alleged infringement upon third-party patents, trademarks, copyrights and other intellectual property. VIP Defender indemnifies insured companies against actual damages and legal expense incurred by alleged and actual infringements for a range of intellectual property (IP) claims, ranging from patent infringement to trademark and copyright violations. Includes coverage for products and processes infringing patents, trademarks, designs and other associated intellectual property rights of third parties.
Dollars: Up to $2 million of protection with additional limits available. Premiums begin at $50,000 annually, depending upon the scope of the protected products.
Carrier: Underwritten by Hiscox Syndicate 33 at Lloyd’s of London.
States Available: All but Kentucky.
Contact: Bill Dalton, (800) 282-6247254
Topics Property Manufacturing
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