Wells Fargo Insurance Introduces New Financial Protection Products for Intellectual Property [Professional Services Close – Up]

Wells Fargo Insurance, part of Wells Fargo & Company, announced the launch of revENSURES and ANDAfend insurance products: two new strategic solutions from its Professional Risk Group, Intellectual Property Risk Mitigation Practice (IPRMP).

"Both products were designed to protect a company's expected revenues from legal challenges to the intellectual property supporting its sales or licensing," said Chris Sclimenti, Ph.D., national practice leader for IPRMP.

According to the company, the new insurance products are solutions that provide indemnification for a company's actual revenue shortfall and serve as a hedge against unfavorable market coverage from intellectual property litigation that may affect profits:

-revENSURE insurance can indemnify a company for a shortfall in revenue if the intellectual property rights that support its sales (or licensing) are adversely affected.

-ANDAfend insurance is designed specifically to cover drug products and provide indemnification for a shortfall in a company's drug sales (or licensing) as a result of a successful paragraph IV challenge.

"At Wells Fargo Insurance, our vision is to help our customers succeed financially by protecting what they value most," said Simon Hodge, head of the Professional Risk Group. "revENSURE and ANDAfend are the latest examples of how we help protect revenue relative to our customers' product innovations."

revENSURE and ANDAfend are Wells Fargo Insurance proprietary solutions and are underwritten by a dedicated facility at Lloyd's of London. For more information, visit https://wfis.wellsfargo.com/ intellectualproperty.

Wells Fargo Insurance'sProfessional Risk Group includes teams of technical experts in multiple areas including Crime, Employment Practices Liability, Fiduciary Liability, Intellectual Property Risk Mitigation, Private Company Management Liability, Professional Liability, Public Company Directors & Officers Liability, Transaction Liability as well as Technology, Privacy and Network Risk.

Wells Fargo & Company is a nationwide, diversified, community- based financial services company with $1.4 trillion in assets.

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