The RIMS Tuesday morning session at 9:00 AM April 21st will cover intellectual property valuation techniques and types of policies that are available. Intellectual property(IP) is a generic term for patents, copyrights, trade marks and trade secrets.
You will learn that intellectual property is the largest single asset of american corporations and almost none of it is insured. You will also learn that IP is not in a recession. In fact, the opposite appears to be the case since IP holders are currently eager to protect market share and generate more revenue through licensing.
You will learn that coverage for IP is rarely found in general liability policies but several specialized policies are available. If you are an in-house risk manager knowledge of these policies is essential, since statistics show that your employer is more likely to have an IP exposure than a E&O exposure. If you are an agent or broker knowledge of these insurance policies will open the door to increased sales through cross selling, and, offering stand-alone coverage. This means more new customers and more commissions.
Specifically you will be brought up to date on the latest policies and premiums. You will learn when it is necessary to value the IP and when insurance is purchased by determining the "amount in controversy".
You will take away a through understanding of IP valuation techniques and insurance.