Kiln plc announced the launch of a new range of Intellectual Property Rights (IPR) cover today under the Kiln 4Thought brand.
Kiln says that a wide range of businesses need protection for their intangible assets such as patents and trademarks.
It will provide coverage in conjunction with Lloyd's brokers Glenrand Limited.
Kiln says it has already negotiated its first policy, which it has provided for a major pharmaceutical group.
The director of underwriting at Kiln, Robert Chase, said: "IPR are often the major revenue generating assets of companies in many areas of business. This new product enables these companies to quantify and protect the value of these intangible assets."
