Tokio Marine Kiln (TMK), a specialist insurer, has launched an intellectual property abatement insurance for US-based SMEs.
The product will be available for micro-enterprise and small to medium-size clients with revenues under $100m.
Tokio Marine said target organisations for the product will be start-ups holding intellectual property rights. The abatement add-on product will cover legal representative’s fees and legal expenses incurred by organisations seeking to protect their filed intellectual property rights and will feature coverage limits of up to $3m.
The product complements TMK’s IP Infringement Defence product, which has been a core
Aoife Woulfe, head of intellectual property at TMK, said, “This is another new product offering by the IP Team at TMK which is indicative of our commitment to meeting our customers’ changing needs. We are already writing IP Enforcement worldwide excluding the US, and we are excited to bring our expertise and financial strength to customers in the US market.”
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