Arch Insurance coverage Worldwide has introduced the launch of an intangible property division to supply protection for mental property dangers.
Efficient instantly, the launch comes after an settlement to accumulate sure property of Aon’s mental property legal responsibility managing common agent unit.
Providing protection for a variety of dangers akin to exposures to mental property infringement, contractual liabilities, invalidation and enterprise disruption.
The brand new division will serve companies of all sizes.
As the pinnacle of intangible property, Ian Lewis will lead the brand new five-person underwriting workforce, which relies in London.
Lewis has greater than 30 years of expertise, principally within the fields of intangible danger and mental property.
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He most not too long ago held the place of world head of Aon’s mental property underwriting companies.
Lewis will report back to Arch’s head {of professional} traces, Duncan Smith.
Different members of the workforce embody Justyn Hardcastle, senior underwriter; Carys Bickmore, underwriter; Ben Kemsley, underwriter; and Chris Sclimenti, a senior underwriter based mostly within the US.
Sclimenti may even oversee main Arch’s life sciences enterprise.
Arch Insurance coverage Worldwide CEO Hugh Sturgess stated: “The launch of our intangible property workforce is a pure development for Arch as we proceed to develop our skilled traces choices.
“We see vital alternatives for progress on this class and are properly positioned to supply our brokers and mutual purchasers complete options to answer the evolving dangers to their intangible property. By bringing on board a longtime and revered workforce led by Ian, we search to determine Arch as a lead market within the intangible property area.”
Aon mental property options CEO Lewis Lee stated: “We’re very happy with the underwriting workforce and the way they’ve helped Aon proceed to develop the IP Legal responsibility Insurance coverage market over the previous few years.
“In an innovation-driven progress financial system, options involving IP property characterize a big alternative for Aon and the insurance coverage trade globally. We are going to proceed to concentrate on broking the total mixture of IP options for our purchasers – which incorporates persevering with to develop our IP legal responsibility enterprise.”
