Twin City Group: The World of Intellectual Property Insurance
Executive Summary
Alex Fjelstad, SVP of Twin City Group, discussed patent infringement insurance. The cost of such insurance is generally 2% of the limit purchased. For example:
- 2% of 500,000 limit equals $10,000 per year
- 2% of $2,000,000 limit equals $40,000 per year
The premium cost based upon a number of factors:
- Number of products covered
- Industry
- SIR/co-payment (SIR is “self insured retention,” effectively same thing as a copay.
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Source
"Twin City Group: The World of Intellectual Property Insurance." Patent Troll Summit, 6/11/14.