IP Protect provides the following protections:
- Defense costs arising from a third-party’s attempt to invalidate an insured’s scheduled registered IP.
- Defense costs and damages (including both settlements and judgments) arising from a third party’s allegation that an insured has violated the third party’s patent, copyright, or trademark rights or, if included by optional endorsement, misappropriated the third party’s trade secrets.
- Costs arising from an insured’s contractual obligations to indemnify its customers or manufacturers if they are sued for IP infringement due to the insured’s actions or omissions.
Other unique features of IP Protect include a streamlined underwriting process and maximum flexibility for insureds to drive their own legal defense.