Leo compares the UK market and shows you PI policies side by side for patent attorneys. £2M cover, instant activation.
Professional indemnity insurance protects you and your business against the costs of claims made by clients who have suffered loss due to your professional advice or work. For patent attorneys, this is particularly important as a single mistake or oversight can result in significant financial liability.
The main risks patent attorneys face include: filing errors, missed deadlines, incorrect patent searches
Regulatory requirement: CIPA requires all practising patent attorneys to hold professional indemnity insurance.
The amount of professional indemnity insurance cover you need depends on the size of your business, the types of clients you work with, and the potential value of claims. Most patent attorneys opt for cover between £500,000 and £2 million.
The right level of cover depends on the size of your projects, your annual revenue, and any contractual requirements from your clients. Leo's comparison tool can help you explore different cover levels and see how they affect your premium.
The cost of professional indemnity insurance for patent attorneys varies depending on:
As a guide, patent attorneys typically pay from £24 per month for professional indemnity insurance.
Compare PI insurance in 60 secondsYou fail to identify or properly advise on a patent infringement that your client subsequently faces, resulting in litigation costs and loss of freedom to operate.
Your patent application advice results in inadequate claims scope or vulnerable patents that fail to protect your client's intellectual property adequately.
You miss critical patent filing or renewal deadlines, causing loss of patent protection or unintended abandonment of valuable IP.
You fail to advise your client on international filing strategies or territorial coverage, resulting in inadequate global IP protection.
Professional indemnity insurance for Patent Attorney typically covers:
Patent attorneys regulated by IPReg or CIPA must hold professional indemnity insurance meeting specific regulatory requirements. Cover of £1M-£2M is typical, depending on the value of patents you advise on and client base size. Your policy should cover patent advice, application drafting, and IP strategy. Attorneys advising on high-value patents or complex portfolio management should consider enhanced cover. Ensure your policy covers both contentious and non-contentious patent work.
Approximately 18% of patent attorney practices have faced a professional indemnity claim. The average claim is valued at £125,000. Patent application advice errors account for 38% of claims, whilst missed deadlines represent 28% of claims. Failure to identify infringement risks accounts for 22% of claims.