Another example of insurance against litigation and legal costs, this time for patents

IP Review, Iss. 24, Winter 2008/2009 at 22, describes insurance policies of SAMIAN Underwriting Agencies, working with CPA Global, that offer clients “insurance for up to 10 patent families when clients are renewing patents. This allows clients to enforce their rights through legal expense insurance” (See my post of Oct. 31, 2007: insurance against litigation risks with 7 references; May 13, 2007: municipal insurance; and July 4, 2006: insurance and fixed fees.).

The article explains that SAMIAN provides (1) infringement liability insurance, (2) “pursuit cover,” and (3) business interruption cover, “protecting against the risk of IP impairment to the insured.” I mention these insurance policies because general counsel should understand where they might protect their company and departmental budget against expensive IP litigation.