La Playa: Insurance with Intelligence®

Science & Technology

La Playa: Insurance with Intelligence®

Case Studies

You wouldn't hesitate to insure your office contents and other assets; it also makes good commercial sense to insure your Intellectual Property against infringement. Without insurance, the financial burden can be tremendous. An average patent law suit in the United Kingdom can easily exceed £250,000 (per side).

The case studies below illustrate the importance of getting the right IP insurance for your size of business.

Case Studies

Case Study 1

Business Sector Energy (Mining, Oil & Gas, Green Technology)
Revenue (Past 12 Months): GBP Nil
Revenue (Next 12 Months): GBP Nil
Number of Patents: Granted - 0

Pending - 2

Territorial Limits: Worldwide

If Insurers Preferred Counsel is utilised:
5% of any one Claim, subject to a minimum of GBP 5,000, but increased to GBP 10,000 any one Claim arising in the United Kingdom, Australia, Japan, Singapore, Korea, China or Hong Kong.
But increased to GBP 17,500 any one claim arising in the USA or Canada.
Co-Insurance:
If Insureds Preferred Counsel is utilised:
10% of any one Claim, subject to a minimum of GBP 7,500, but increased to GBP 15,000 any one Claim arising in the United Kingdom, Australia, Japan, Singapore, Korea, China or Hong Kong.
But increased to GBP 25,000 any one claim arising in the USA or Canada.
Limit of Indemnity: GBP 250,000 in aggregate
Premium: GBP 7,250 plus taxes
Case Studies

Case Study 2

Business Sector: Medical Devices and Diagnostics
Revenue (Past 12 Months): GBP 1,100,000
Revenue (Next 12 Months): GBP 1,800,000
Number of Patents: Granted - 6

Pending - 3

Territorial Limits: Worldwide

If Insurers Preferred Counsel is utilised:
7.5% of any one Claim, subject to a minimum of GBP 10,000, but increased to GBP 30,000 any one Claim arising in the United Kingdom, Australia, Japan, Singapore, Korea, China or Hong Kong.
Co-Insurance:
If Insureds Preferred Counsel is utilised:
12.5% of any one Claim, subject to a minimum of GBP 20,000, but increased to GBP 50,000 any one Claim arising in the United Kingdom, Australia, Japan, Singapore, Korea, China or Hong Kong.
Limit of Indemnity: GBP 500,000 in aggregate
Premium: GBP 19,720 plus taxes

 

 

Case Studies

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Specialist & Independent

La Playa's specialist Science & Tech team can help you protect your business with smart, flexible, high-performance insurance - with a friendly human UI. We understand the risks and pressures you face - and we speak your language. We’ll support you with great advice - helping you make good decisions for your business.

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Robot

Tech-based business is 24/7, global and borderless, always exposing you to new risks and liabilities - often in unfamiliar places. As the law struggles to keep pace with technology, insurance can provide a real safety net if you fall foul of changing legislation.

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