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AN INTELLECTUAL PROPERTY LAW FIRM
 PUT JUSTICE, KNOWLEDGE, AND PROTECTION ON YOUR SIDE!
AN INTELLECTUAL PROPERTY LAW FIRM
314 Philadelphia Ave., Tacoma Park, Maryland
 Call Toll-Free  24 Hours 1-888-275-2757
Intellectual Property Liability Insurance

Lighthouse Underwriters

New Product Announcement

IPLI…Intellectual Property Liability Insurance

IPLI is a slot rated approach to writing intellectual property insurance for all types of businesses. Whether your client is interested in protecting a patent, copyright or trademark, IPLI is the affordable coverage solution. With a completed application we can turn around a quote in 24 hours except for biotech, drugs and medical instruments.

Intellectual Property: Two Coverage Functions

The defense coverage provides funding for:

  • unintentional infringement on a third party’s intellectual property
  • the defense of the insured’s rights as concerns an application for revocation, rectification, amendment or cancellation of insured’s IP
  • the defense of the insured’s right to use their patent or grant a license
  • the defense of the insured’s right in respect of passing off injurious falsehoods

The pursuit coverage provides:

  • pursuit if the insured’s rights due to the infringement or alleged infringement of the insured’s IP
  • the pursuit of the insured’s rights as respect of an allegation of passing off injurious falsehoods
License
  • pursuit or defense of the insured’s rights in respect of a dispute under a license of the insured’s IP
  • pursuit or defense of the insured’s rights in respect of a dispute under a license with a licensor of the IP

The form is a "pay on behalf of" claims made form. The paper is E&S and fully 100% Lloyd’s.

We have low premiums and a simple two-page application. The primary underwriting criteria is a properly registered mark. (Whether patent, trademark or copyright.) Rates and deductibles are as follows:

OPTION ONE
Trademarks/ Copyrights
$25,000 per occurrence and in the aggregate
$1500 deductible
$2000 premium

All other Patents
$25,000 per occurrence and in the aggregate
$1500 deductible
$2500 premium

Tech Patents
$25,000 per occurrence and in the aggregate
$1500 deductible
$3000 premium

OPTION TWO
Trademarks/ Copyrights
$50,000 per occurrence and in the aggregate
$3000 deductible
$2750 premium

All other Patents
$50,000 per occurrence and in the aggregate
$3000 deductible
$3250 premium

Tech Patents
$50,000 per occurrence and in the aggregate
$3000 deductible
$3750 premium

OPTION THREE
Trademarks/ Copyrights
$100,000 per occurrence and in the aggregate
$5000 deductible
$4000 premium

All Other Patents
$100,000 per occurrence and in the aggregate
$5000 deductible
$4500 premium

Tech Patents
$100,000 per occurrence and in the aggregate
$5000 deductible
$5000

As you can see the premiums are low. If additional marks are added during the policy year, they need to be reviewed and approved by underwriters and we will make a separate charge for all new marks added.

Variations on insured mark: 15% of original premium for every variation on an existing subsequent mark.
  • Where a new mark is substantially different than an existing mark with no increase in the aggregate limit:
  • 2nd Mark 75% of original premium
  • 3rd Mark 65% of original premium
  • 4th Mark 55% of original premium
We are able to turn around quotes within 24 hours with a complete application except for the following industries that require Underwriters approval:
1. Biotechnology
2. Drugs
3. Medical instruments

For additional information, please contact Art Seifert, President, Lighthouse Underwriters:

Phone: 301-948-5480

Fax: 301-948-5959

E-mail: seifertab@lighthouseunderwriters.com