The patent world is huge with more than 300,000 patents granted each year*. Many businesses believe receiving a patent offers complete protection against infringement, but the likelihood of infringing on a patent is high. Larger companies might be able to absorb the costs of legal fees and settlements, totaling into the millions of dollars, but patent litigation can mean the end of small to mid-sized companies. Does your client have a safety net that allows them to operate knowing their business is protected from patent risk?

Product Highlights

This is a brand new and unique policy offering 3 levels of coverage indicated as “Bronze”, “Silver”, or “Gold” depending on type of Patent Infringement.

CoverPLUS upgrade to include Copyright, Trademarks, Designs and Domain Names.

Policy Offering:

• Territorial Limits USA Only, USA & Canada Only, Worldwide.
• Limits of Indemnity: $250,000 - $5,000,000
• Premiums from: $3,500
• SIR from: $15,000

Streamlined Application/Underwriting Process

• CRC offices can offer indications based on Revenues and Industry of the insured.
• Short application will be completed prior to receiving a formal quote.
• Insurisk will bind policies upon receiving the order.

Please contact your CRC Producer for more information and to receive indications.

ENDNOTES

* U.S. Patent Statistics Chart Calendar Years 1963 – 2015