Brokers and their prospects are getting the drift: Patent risk can be a very real and devastating threat for all types of companies, and patent litigation insurance is a critical failsafe. It is, in fact, as important as any other business insurance — and well worth adding to a P&C product portfolio.
But what should the savvy broker and client look for in a patent insurance product? What sets a top-tier product apart from its competition?
Simple: an actuarial approach to assessing risk based on hard data.
More data = better risk assessment — and a more customized policy
As with any type of insurance, one size does not fit all. Health insurance premiums, for example, take into account a wide range of factors and details outside the typical sex, age, height and weight.
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