TMK unveils $100m IP facility with Aon, Lloyd’s syndicates

Specialist insurer Tokio Marine Kiln (TMK) has established a $100 million intellectual property (IP) facility with broker Aon and several other Lloyd’s syndicates.

The new facility will offer tailored cover for businesses of all sizes, from SMEs to large corporates and will help protect against a wide range of infringement liability risks, initially in the US, the UK and Europe.

The facility will be led by TMK and is said to be one of the first for IP in the London market, providing greater capacity for larger IP risks.

Ian Lewis, IP underwriter at TMK, said: “Growing recognition that IP is not only an important asset but, for many businesses, their most valuable one, is driving demand for IP protection. The market has reached a turning point, with strong demand being further propelled by recent high-profile court settlements, companies being acquired solely for their IP and impending legislative changes to IP enforcement.”

“As the world changes, so our clients’ risks evolve. It is critically important that insurers develop products which mitigate the new risks our clients are facing.”

Lewis Lee, CEO of IP solutions at Aon, said: “Managing both the value creation opportunity afforded by IP and the downside risk mitigation is critical. Yet, capacity restraints, coverage limitations, high retention and co-insurance requirements mean clients often struggle to obtain adequate protection.

"This latest offering in our suite of integrated IP capabilities brings a holistic approach to IP. It utilizes patent litigation analytics, predictive modelling techniques, risk mitigation and innovative distribution strategies to help clients build and protect a valuable IP portfolio while minimizing risks.”

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