Arch Insurance International, part of Arch Capital Group, a multi-disciplinary provider of specialist insurance solutions, has launched a new intellectual property (IP) alliance at Lloyd’s with a $40 million product line to meet growing capacity and demand for a wider range of IP solutions.
The consortium is supported by Lloyds Group including AXIS, Everest, Hamilton, Probitas – Lloyds of Aviva, QBE, SCOR and The Hartford.
At the same time, Arch will serve as the lead underwriter of the consortium and provide underwriting services in the three core areas of tort liability, intellectual property protection and intellectual property enforcement.
The insurer explains that it is designed to serve businesses of all sizes in various sectors including energy, life sciences, manufacturing and software.
Additionally, the alliance aims to allow brokers to benefit from its fast, simple and efficient 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, which has decades of experience in claims of all types and complexity.
Ian Lewis, Head of Intangibles, commented: “We are proud to have brought together this alliance of professionals to support a fast-growing and increasingly important business category.
“This move demonstrates the strength of Lloyd’s Markets in delivering meaningful capabilities and specialist IP coverage for growing business needs. By combining significant constraints with deep underwriting expertise and claims capabilities, we can deliver comprehensive, bespoke solutions that reflect the critical value of our clients’ intangible assets.”
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