Arch Insurance International, part of global insurer and reinsurer Arch Capital Group and a provider of specialty insurance solutions, has launched a new Intellectual Property (IP) Consortium at Lloyd’s, covering $40 million in line size to cater to growing demand for increased capacity and more extensive solutions.
The consortium is supported by Lloyd’s syndicates, including AXIS, Everest, Hamilton, Probitas – Aviva’s Lloyd’s syndicate, QBE, SCOR and The Hartford.
Arch will act as the lead underwriter for the consortium and offer coverage across three core areas: Infringement Liability, IP Rights Protection, and IP Rights Enforcement.
It is designed to serve businesses of all sizes across a wide range of sectors, including energy, life sciences, manufacturing and software, explained the insurer.
Additionally, the consortium aims for brokers to benefit from its speed, simplicity, and efficiency of placement through a single point of contact and a unified claims handling process. All claims will be managed by Arch’s Third Party Claims team.
Ian Lewis, Head of Intangible Assets, commented, “We are proud to bring together this specialist consortium to support what is a rapidly growing and increasingly important class of business.
“This initiative demonstrates the strength of the Lloyd’s market in delivering meaningful capacity and specialised IP coverages for the expanding needs of businesses. By combining significant limits with deep underwriting expertise and claims capabilities, we can deliver comprehensive, tailored solutions that reflect the critical value of our clients’ intangible assets.”
