Aegis Insurance Markets is proud to announce two new specialty programs that will help better protect high-tech companies, as well as high flying aviation professionals alike. Like Aegis’ current offerings, these new specialty programs will provide unparalleled coverage from the top-rated insurance carriers at affordable rates. Here’s what’s new for you at Aegis.
Protection for High-tech Companies (and Defense Against Trolls)
Aegis now offers Intellectual Property Insurance to help businesses protect their patents, trademarks, trade secrets, and other intellectual property. Is your company protected, or are you exposed?
According to the International Risk Management Institute, Inc. (IRMI), patent infringement lawsuits are increasing at an average rate of 10% per year. And while any patent has a chance of becoming embroiled in litigation, certain industries are even more likely to experience a patent litigation -- such as valuable technology or pharmaceutical industries.
“The chance that a high-tech business will be involved in an intellectual property infringement suit continues to rise, and so do the stakes. The legal fees incurred in the defense of a patent infringement lawsuit averaged $1.5 million in 1999, up by over $500,000 since 1995, and copyright infringement defense is known to cost upwards of $150,000.” - IRMI
Even if you don’t hold any patents for up and coming technology, you could still end up on the expensive end of a patent lawsuit. Enter the “Patent Trolls.”
Patent Trolls are companies who use patents as weapons. Patent trolls often purchase patents from companies -- seeking out those which are broad and cover everyday types of ideas. The trolls then send out threats of litigation to companies, who could find themselves defending actions such as developing mobile apps, podcasting, and even emailing scanned documents.
Rather than fight it out in court, many companies find themselves settling with patent trolls, (also known as Patent Assertion Entities, or PAEs) to avoid litigation.
Unfortunately, patent trolls like to seek out small and medium sized businesses who would rather pay out a settlement than take their fight to court. That means any small business is at risk.
With Aegis’ new Intellectual Property Insurance, companies can defend the patents they own - and also protect themselves from trolls coming after them for using everyday technology for patents they don’t own, as well.
Aviation Insurance Protects Pilots and Aircraft Owners from High-Flying Risks
High flying aircraft owners and operators now have more options when it comes to obtaining Aviation Insurance. Aegis Insurance Markets has a new specialty program that covers general aviation risks for owners and operators of a wide-variety of personal aircrafts.
Aviation Insurance protects aircraft owners from the risks of bodily damage, property damage, and medical expenses arising from their aircrafts, from single engine piston aircrafts to seaplanes, personal jet aircrafts, sport aircraft and even turbo jet aircraft.
And for pilots of non-owned aircraft, Aegis has you covered, too. Not only does Aegis’ new aviation program cover property damage and bodily injury arising from an accident involving a plane you are using, it also covers damage to the plane itself. When you’ve got non-owned aircraft coverage, any aircraft owner would be glad to have you in the pilot’s seat.
Aegis Insurance Markets has earned a stellar reputation as the go-to insurance broker for a number of industries, from construction to the outdoor industry and businesses large and small. With these two new programs, Aegis has added even more to our lineup of top-rated insurance programs, so you can keep defending your business from the risks you face in the course of doing what you love.