Lloyd’s Asia, Antares launch IP insurance initiative in Singapore
Specialist insurance market Lloyd’s Asia and managing agent Antares have teamed up with the Intellectual Property Office of Singapore (IPOS) to launch an initiative to support innovative enterprises as they enter global markets.
The Intellectual Property Insurance Initiative for Innovators (IPIII) will provide enterprises with insurance coverage for legal expenses that may be incurred in IP infringement proceedings worldwide. Enterprises and innovators with a Singapore patent, trademark or registered design will be able to take advantage of the initiative.
The policy will be underwritten by Antares Underwriting Asia, on behalf of Syndicate 1274 at Lloyd’s of London.
“Antares has been an integral part of the development of the memorandum of understanding between Lloyd’s Asia and IPOS," said Yeo Li Shan, CEO of Antares Underwriting Asia. "We are proud to be participating in the IPIII and our cover will benefit IP filers by giving them confidence to develop and commercialise their IP without fear of the potential legal risks that can occur along the IP journey.”
Bernard Ong, group director of policy and engagement at IPOS, said: “IP has been growing at a faster pace than the world population in the past decade. Yet, insuring IP is still nascent to a market that has witnessed multimillion-dollar patent litigation and trade disputes over IP theft. The new insurance initiative is timely in a global economy increasingly powered by the new currency of intangible assets."
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
More of today's news
Merger creates second-largest reinsurer in Brazil
Helios to buy Lloyd's Nameco for £2m and raise over £3m through placing of shares
Sedgwick appoints new Asia COO to drive operational efficiency
EC3 Brokers nabs Munich Re talent for MEA treaty leadership
Enstar appoints XL Catlin veteran to board
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze