What Is Intellectual Property Insurance?

Intellectual property (IP) insurance is a category of business coverage for certain disputes about intellectual property rights. The NAIC describes it as covering copyright, trademark, or patent infringement claims stemming from a company's operations. Some products focus on defending an insured against an infringement allegation; other options can support enforcing rights the insured owns or licenses. The UK Intellectual Property Office describes several product structures, but its guidance concerns the UK market and does not establish US policy terms.

The label alone does not tell you which rights, products, territories, or legal expenses are insured. Read the coverage grant, schedule, exclusions, and endorsements. Confirm whether the proposal addresses defense, enforcement, damages, settlements, and contractual indemnity, because these may be treated separately. The quote should match the actual rights and products important to your business.