LOUISVILLE, Ky.--(BUSINESS WIRE)--Intellectual Property Insurance Services Corporation (IPISC) is introducing an exclusive offer for members of the Association of National Advertisers (ANA) for Patent Troll Insurance. This insurance protects them from claims brought by Patent Assertion Entities (PAEs), often known as Patent Trolls. PAEs are firms with the sole purpose of asserting patent claims against targeted companies which can cost millions of dollars to defend.
To address this issue, the ANA is teaming with IPISC to protect members with focused Patent Infringement Defense Insurance for marketing and advertising activities. The insurance will permit the insured party to challenge the validity of the patent, or otherwise defend against the assertion, with greatly reduced out-of-pocket expense.
Bob Liodice, President and CEO of the ANA, commented: “Patent trolls have been a growing issue for the advertising industry in recent years, costing advertisers and agencies millions of dollars in fees in order to avoid paying even more to defend themselves in court. To offer a level of protection to members, we are introducing ANA Patent Infringement Defense Insurance.”
The ANA’s Patent Insurance Program kicks off this week with full details of coverage on the ANA’s website.
In commenting on the program, Robert Fletcher, President of IPISC, said, “We are excited about the opportunity to offer our Patent Troll Insurance to such a diverse group as the ANA. Working together, we possess the financial strength and expertise required to offer companies peace of mind and protect their businesses against potentially crippling intellectual property litigation.”
IPISC is the pioneer and leader of intellectual property protection insurance and related services. IPISC provides clients with peace of mind by protecting their most valuable, intangible assets. The company is diligent in assessing risks, persistent in providing a policy to mitigate risks, and thorough in response to claims. Policies are underwritten by the Freedom Specialty Program Unit of the Scottsdale Insurance group of companies. Visit patentinsurance.com to learn more.
About the ANA
The ANA (Association of National Advertisers) provides leadership that advances marketing excellence and shapes the future of the industry. Founded in 1910, the ANA's membership includes more than 680 companies with 10,000 brands that collectively spend over $250 billion in marketing and advertising. The ANA also includes the Business Marketing Association (BMA) and the Brand Activation Association (BAA), which operate as divisions of the ANA, and the Advertising Education Foundation, which is an ANA subsidiary. The ANA advances the interests of marketers and promotes and protects the well-being of the marketing community.