TMK launches IP abatement cover

Tokio Marine Kiln has launched IP abatement insurance for clients in the US. The product will be available for SMEs with revenues under US$100m, in particular start-ups holding intellectual property rights. The abatement add-on product will cover legal representative’s fees and legal expenses incurred by organisations seeking to protect their filed intellectual property rights and will feature coverage limits of up to US$3m.

The product complements TMK’s IP Infringement Defence product, which has been a core offering in the US for almost a decade.

Aoife Woulfe, head of intellectual property at TMK, said: “This is another new product offering by the IP Team at TMK which is indicative of our commitment to meeting our customers’ changing needs. We are already writing IP Enforcement worldwide excluding the US, and we are excited to bring our expertise and financial strength to customers in the US market.”

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