The British Insurance Brokers’ Association (BIBA) has launched a new intellectual property insurance (IPI) scheme with leading specialist underwriter Opus Underwriting Ltd. (Opus).

The new scheme offers competitively priced intellectual property insurance to companies with products, brands and know-how to protect from competitor predators and infringers. Backed by 100% Lloyd’s security through certain syndicates, Opus is committed to developing IPI in the U.K. market where so often there exists a lack of appetite. The Opus scheme – “BIBA IPS 1000” powered by Opus analytics – is designed to remove the obstacles that have for too long impeded the development of this market and to deliver timely and competitive quotes to broker clients.

The British Insurance Brokers’ Association (BIBA) is the UK’s leading insurance intermediary organization representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes just under 2,000 regulated firms.

General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.

52% of all general insurance is sold by an insurance broker and they average 78% of all commercial insurance business.

OPUS Underwriting is a specialist underwriting agent truly dedicated to providing leading intellectual property insurance solutions with individual team members who have over 25 years combined experience in this arena. All our expertise and resources are focused on the continued fine tuning and honing of our knowledge base for Intellectual Property. We bring unrivalled product offerings and an innovative approach to making intellectual property insurance easily accessible to small to medium sized enterprises (SMEs) and large corporates.

Our ethos is not to only offer an insurance solution but share experiences that benefit the client, binding OPUS and the insurers in a true partnership.