Viability of Providing Insurance Cover for Intangible Assets in India
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Case Details:
Case Code : INS052
Case Length : 04 Pages
Period : 2003
Pub Date : 2003
Teaching Note : Available
Organization : Varied
Industry : Insurance
Countries : India
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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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.
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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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