The ACID React IP Insurance scheme underwritten by Hiscox has been withdrawn. There has been a demand for a wider scope of coverage than was originally envisaged. Therefore alternative specialist IP insurance products have been introduced, through a portfolio of different underwriters. Each will be selected to suit the claimants’ needs and claims history. Although there is no minimum premium, entry level costs typically are between £75.00 to
£90.00 per month. Larger businesses requiring higher levels of protection in a wider range of world territories will pay more than this.
In an effort to control premium costs, and to provide value for money, the Underwriters have increased the minimum excess levels to between £1000.00 and £2500.00. This helps to reduce premium costs as disputes may be resolved with just an initial exchange of correspondence and therefore do not become subject to insurance claims, putting upward pressure on premium costs.
The ACID scheme offers market leading IP insurance at highly competitive premiums. It has been expanded to offer the choice to cover all classes of IP, whether Registered or not, and can cover every territory in the world, including China.
If you are interested in further details, please call Charles Milnes direct, quoting your ACID membership number on0207 923 4655, or visit his website for more information. www.intellectual-property-insurance.co.uk