Insured

A US bank and financial services company based in Alabama.

Issue

The insured required specific coverage to enable them to sign a technology contract with a third party who would not indemnify the insured for associated patent litigation.

Response

There are limited markets for patent insurance globally, but crucially London has specific expertise in this space. Miller’s ability to tailor the coverage to the client’s requirements was critical and the client was delighted with the outcome.

As well as the potential contributory liability issues noted above, an insureds own IP rights constitute a growing proportion of the business’ wealth as industries move increasingly towards a knowledge-based economy. Patents, trademarks, designs, copyrights, trade secrets and domain names are all vulnerable and therefore need protection. Miller can source insurance policies to protect IP owners and users from litigation costs, infringement liabilities and revenue loss related to their IP rights.