Overview | Features & Benefits
| Claim Information
The Abatement policy is a unique plaintiff's policy which reimburses the Litigation Expenses to enforce Intellectual Property (IP) against alleged infringers, as well as countersuits for invalidity in Authorized Litigation.
The Abatement policy is a blended coverage, meaning, there are elements of pure insurance (unexpected risk) and a bond (people made/moral risk). In the event the Insured loses the IP lawsuit, the Abatement policy responds as a pure insurance policy. In the event the Insured wins the IP lawsuit and has recognized an Economic Benefit, the policy then acts as blended coverage. The Insured reimburses only the money paid out by the carrier, and retains any additional recoveries.
Abatement policies include an endorsement providing relief from the Economic Benefit repayment of the first $100K of non-monetary benefit. Repayment of Economic Benefit reinstates policy limits, and those funds are then available to pursue other infringers.