Annette Gustafsson is an Insurance Broker at AssuransSelector. They offer professionally negotiated insurance solutions, often in collaboration with London underwriters, based on global reinsurance plans that Swedish insurers usually cannot offer.
Annette Gustafsson, AssuransSelector
“I think development companies should review these three key points in terms of insurance,” Annette says. She is the company’s representative at Ideon, where she has helped many companies to limit their risks within IT, med tech, drug development and clinical studies.
1 – Budget to enforce your patents
Comment from Annette: To get a patent in ten countries costs over one million SEK. It is easy to forget that it costs about the same amount to maintain the patent for ten years. A patent process in Sweden costs SEK 3-4 million or more. In the US, it costs at least SEK 6-10 million. So when you budget for patents, remember to review if you can afford to stop an infringement of your patent? Or if you can protect yourself, if you happen to infringe someone else’s patent? Get help to negotiate the right insurance solutions that cover this as well.
2 – With IPO, risk exposure also increases
Comment from Annette: It is easy to forget that with a board assignment follows personal responsibility for the company’s commitments. We see in our work how the ownership after a stock market introduction increases from a small number of people to a large number, and thus increases the risk exposure. Do not forget to get an insurance cover for the CEO and the board. Sometimes young companies find it difficult to get insurance because they cannot show enough positive financial statements, but there are opportunities for them too.
3 – We have signed an agreement, but does the insurance cover the commitments we make?
Comment from Annette: Signing agreements can be complicated in itself. But if you do notexplore the risks that the agreement can entail, the consequences can be really unpleasant.Therefore, it is important that you always look over the liability insurance before signing major business deals.
We’ll guide you through the jungle
Assurans Insurance can help you negotiate the best insurance solution for your business, whether you are a startup, medium-sized or large company, whether you have customers in Skåne or globally. Our focus is always on our customers, as well as continuously offering competitive solutions for high-tech companies in new areas. Understanding our customers’ operations is a vital part of our business and a necessity for providing optimal insurance solutions. Contact Annette Gustafsson, who is at Ideon in Beta 5 to hear more about what services they can offer your company: phone + 46 76 102 25 53 or by mail at annette@assuransselector.se. Find out more at http://assuransselector.se/
