Viability of Providing Insurance Cover for Intangible Assets in India
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Case Code: INS052 Case Length: 04 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available |
Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: - |
Abstract Case Intro
Safe Property Insurance Company wants to provide insurance coverage for intangible assets such as Intellectual Property Rights (IPR). Ashish Talwar (Talwar), the CEO of the company, felt that there are very few players in the market who provide coverage for such assets and therefore, asked the product development team to develop separate insurance policies for such assets.
The team started collecting information related to IPRs. But it found that information available was inadequate and therefore, conveyed its difficulty to Talwar. He convened a meeting in which he invited the product development team, the actuaries, the vice president (Marketing) and the head of the underwriting department.
Talwar asked the head of the product development team Kishore Malpani (Malpani), "Kishore, what is the problem in developing policies that provide coverage against losses from IPR infringement?"
Malpani responded, "There is limited historical and actuarial data related to IP coverage. There is also a shortage of data related to the litigation history in IPR. Another peculiar problem associated with IP insurance is that the firms seeking IP cover claim that the value of their intellectual property is much higher than the value of all their tangible assets put together."...
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