BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Aon PLC is offering coverage for intellectual property used as collateral in a loan, the broker said Tuesday.
The first deployment of the coverage was in a deal involving Indigo Ag, an agriculture technology company, which is borrowing over $100 million from a lender utilizing its intellectual property as collateral, the Aon statement said.
The value of that collateral is insured by a group led by Markel Specialty, using an insurance-linked security structure. Hudson Structured Capital Management was the largest capacity provider, the statement said.
Jim Gray, executive underwriting officer of professional liability at Markel Specialty, said the insurer “looks forward to building this new market with Aon in the future.”
Edouard von Herberstein, partner at HSCM Bermuda, said, “We believe there are significant and growing opportunities and interest in that sector.”
“As an innovative company using microbial and digital technologies to facilitate positive transformation of the agriculture system, Indigo sought to find a way to collateralize its extensive IP asset portfolio,” said Jim Young, Indigo’s chief financial officer, said the deal allowed his company to “collateralize its extensive IP asset portfolio.”
Aon’s intellectual property operations are part of the broker’s New Ventures Group, which was formed in the fourth quarter of 2018, the statement said.