Case Studies

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.

Commercial Legal Expenses Tug Of War

“La Playa takes an impressive interest in the direction of particular technologies and the emerging pattern of risk. That is rare.”

 

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 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

 

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You can call us to talk more about your business on +44 (0)1223 200650 or +44 (0)20 3865 0149

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About La Playa Science & Technology

Specialist & Independent

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. 

In-house IFA

We also offer Business Protection (including Key Person Insurance) and Employee Benefits: a joined up approach with a team of advisers working for your best financial interests - all under one roof

Advice You Can Trust

…from an expert who understands you

Tech-based business is 24/7, global and borderless, 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.

  • Specialist insurance for science and technology
  • Independent professional advice
  • Relationship-based service: right beside you when you make a claim
  • “Can do” culture

Seamless insurance across UK and US

What does “Boutique Service” actually mean?
La Playa’s Personal Risk Concierge means:

  1. dedicated adviser so you can speak to the same person each time
  2. Careful listening to really understand your needs and priorities
  3. As much help as you need with completing forms to provide risk information
  4. A discreet and complimentary appraisal* of your property to assess the risks and ensure you have the right cover where you need it
  5. An independent market review - so you don’t have to shop around comparing policies, cover limits, risks covered and smallprint exclusions
  6. Careful monitoring of the insurers’ financial strength, claims and customer service
  7. An independent recommendation of the best policy for you - and, importantly, why
  8. Specialist policy wordings from underwriters who have demonstrated excellence and deep understanding of your risk exposures. We have analysed a wide range of policy wordings and have selected only the best for our panel. Our advisers have a deep working knowledge of these policies 
  9. An intelligently designed portfolio of protection across multiple asset classes and territories
  10. Advice on how best to manage your risks - to keep you safe but also to keep insurance costs down
  11. Expert guidance on valuations, security and risk management, and connecting you with specialist advisers and suppliers
  12. Direct phone, mobile and email access to your adviser for questions and advice. We aim to respond to emails within 60 minutes
  13. Policy documents emailed to you - no logins and passwords to remember
  14. An advocate beside you if you make a claim - thinking laterally to mitigate the impact, making useful connections to get you back up and running; driving through to a swift and fair financial settlement

Oh, and...

  • No call centres
  • No ‘hold’ music
  • No hidden fees

*subject to availability with our insurer panel

Photo from Science & Technology
Photo of Elaine Lamb

Elaine Lamb

DIRECTOR, LA PLAYA INTERNATIONAL

Direct Dial: +44 (0) 20 3865 0149

Mobile: +44 (0) 7771 528 092

Email: elaine.lamb@laplayainsurance.com

Twitter: @elamblaplaya