Arch Insurance International, part of global insurer and reinsurer Arch Capital Group and a specialist insurance solutions provider, has launched a new intellectual property (IP) alliance at Lloyd’s with a $40 million product line to meet growing demand for increased capacity and a wider range of solutions.
The consortium is supported by Lloyds Group including AXIS, Everest, Hamilton, Probitas – Lloyds of Aviva, QBE, SCOR and The Hartford.
Arch will serve as lead underwriter for the alliance and provide underwriting services in three core areas: 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.
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.”
Back Arch Insurance International Airport. The post Lloyd’s launches new intellectual property alliance appeared first on ReinsuranceNe.ws.
