Intellectual Property Insurance Services Corp. (IPISC) to Provide Patent Troll Insurance to Members of the Association of Nat...
September 01 2015 - 8:14PM
Business Wire
Intellectual Property Insurance Services Corporation (IPISC) is
introducing an exclusive offer for members of the Association of
National Advertisers (ANA) for Patent Troll Insurance. This
insurance protects them from claims brought by Patent Assertion
Entities (PAEs), often known as Patent Trolls. PAEs are firms with
the sole purpose of asserting patent claims against targeted
companies which can cost millions of dollars to defend.
To address this issue, the ANA is teaming with IPISC to protect
members with focused Patent Infringement Defense Insurance for
marketing and advertising activities. The insurance will permit the
insured party to challenge the validity of the patent, or otherwise
defend against the assertion, with greatly reduced out-of-pocket
expense.
Bob Liodice, President and CEO of the ANA, commented: “Patent
trolls have been a growing issue for the advertising industry in
recent years, costing advertisers and agencies millions of dollars
in fees in order to avoid paying even more to defend themselves in
court. To offer a level of protection to members, we are
introducing ANA Patent Infringement Defense Insurance.”
The ANA’s Patent Insurance Program kicks off this week with full
details of coverage on the ANA’s website.
In commenting on the program, Robert Fletcher, President of
IPISC, said, “We are excited about the opportunity to offer our
Patent Troll Insurance to such a diverse group as the ANA. Working
together, we possess the financial strength and expertise required
to offer companies peace of mind and protect their businesses
against potentially crippling intellectual property
litigation.”
About IPISC
IPISC is the pioneer and leader of intellectual property
protection insurance and related services. IPISC provides clients
with peace of mind by protecting their most valuable, intangible
assets. The company is diligent in assessing risks, persistent in
providing a policy to mitigate risks, and thorough in response to
claims. Policies are underwritten by the Freedom Specialty Program
Unit of the Scottsdale Insurance group of companies. Visit
patentinsurance.com to learn more.
About the ANA
The ANA (Association of National Advertisers) provides
leadership that advances marketing excellence and shapes the future
of the industry. Founded in 1910, the ANA's membership includes
more than 680 companies with 10,000 brands that collectively spend
over $250 billion in marketing and advertising. The ANA also
includes the Business Marketing Association (BMA) and
the Brand Activation Association (BAA), which operate as
divisions of the ANA, and the Advertising Education Foundation,
which is an ANA subsidiary. The ANA advances the interests of
marketers and promotes and protects the well-being of the marketing
community.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150901006774/en/
Freedom Specialty Insurance CompanyThomas Tirone,
480-365-2283tironet@freedomspecialtyins.com