International General Insurance Holdings Ltd. (IGI), the specialist commercial insurer and reinsurer, has expanded its growing portfolio of insurance business with the launch of intellectual property (IP) insurance.
The new class of business has been introduced to complement IGI’s legal expenses offering, which provides coverage for both before-the-event (BTE) and after-the-event (ATE) legal expenses insurance. The intellectual property cover, which is available to businesses in markets across the globe, will also offer wide protection for patents, trademarks, copyright, design rights and contractual liabilities concerning IP.
In addition, it will cover the legal costs and damages for IP infringement and enforcement actions, which can heavily impact any business caught up in an expensive IP dispute.
“Having this insurance allows businesses to maintain strength of brand when differentiating their product offering from those of the competition,” said Jo Green, underwriter for Legal Expenses at IGI. “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.”
IP insurance supports innovation, she continued. “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.”
International General Insurance Holdings Ltd. is registered and headquartered in the Dubai International Financial Centre (DIFC) with operations in Bermuda, Jordan, UAE, Malaysia, Morocco and a wholly owned subsidiary in the U.K.
Source: International General Insurance Holdings
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