Tokio Marine Kiln (TMK) has announced the launch of a specialist Intellectual Property (IP) re/insurance product in France, Belgium and Luxembourg.
TMK already offers IP re/insurance to clients in the UK, U.S and other continental European markets through its London and Frankfurt offices, but has decided to expand into these new markets in response to a growing demand for IP cover.
In addition to covering standard infringements like Trade Marks, Copyright, Registered Designs, and Domain Names, the policy will also cover frequently overlooked risks like Patent Infringement and Trade Secrets.
TMK also claims that its new A+ rated offering will be the only standalone IP re/insurance product available to the French market.
The policy will be made available with limits of up to €25 million through TMK’s Enterprise Risk department in Paris, which is led by Marie L’Affeter, the regional Enterprise Risk Manager.
TMK plans to launch the product through a series of European IP Masterclasses, which will be made available to brokers and clients in France, Monaco, Luxembourg and Belgium.
L’Affeter commented: “The value of intangible assets, such as IP, is rapidly increasing. While France is home to some of the world’s major patent innovators, until now, these businesses have not had access to comprehensive IP insurance protection.
“Companies are becoming increasingly aware of their exposure to this risk and I am delighted that we will now provide coverage to this under-served market.
“We have received excellent feedback from our first IP masterclasses, which serve to increase our brokers’ and clients’ understanding of this complex risk and demonstrate the steps that can be taken to mitigate it. I look forward to growing our presence in these markets.”
