Pen Underwriting is to establish a dedicated intellectual property underwriting practice under the leadership of Erik Alsegard (pictured), who joins the firm on 1st April in the newly created role of head of intellectual property.

Adrian Scott, managing director of international and financial lines at Pen Underwriting, said: “As we continue to invest in new areas of niche cover for growth sectors, intellectual property was a logical next step and a great strategic fit, not least with our now established PI-led portfolio of solutions for technology companies.”

Alsegard added: “The value attached to intangible assets, including intellectual property, is increasing for businesses in all sectors, and often significantly outstripping the tangible on many company balance sheets. Yet the very real exposures they present, and complex claims that can arise, often remain uninsured.

“Building a dedicated new IP practice within Pen is a great opportunity to develop state-of-the-art wordings and coverages, provide access to specialist claims support, and play an important part in ensuring the insurance market for IP exposures continues to grow at pace in line with demand. I’m excited to get started.”

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