Integro Insurance Brokers, a specialist insurance brokerage and risk management firm, has unveiled what it describes as a “revolutionary” product created for the entertainment industry. The firm’s Piracy Protection Insurance is designed to return lost revenue to film and TV rights holders and to curtail the damage caused by digital piracy.
Integro claims it is the first product of its kind to limit en masse the continued illicit proliferation of digital content online. Through the Insured process, which in the main, covers the adverse cost elements of litigation, it manages the end to end process with tier one media law firms to recover lost revenue in the form of settlements and damages awarded in court.
Previously, rights holders pursuing defendants through the courts have borne the significant risk of adverse costs themselves, making the process prohibitive without Insurer backing. Rights holders are now benefitting from this bespoke Insurance cover.
The development of Piracy Protection Insurance has been four years in the making, and is spearheaded by Integro’s Simon Thomson and the Media division of Hatton & Berkeley.
“Due to the vast and freely accessible digital distribution channels via the internet, piracy of copyrighted material has now reached endemic proportions, losing the creative industry billions of dollars annually,” noted Thomson. “With our key strategic partners in the insurance, finance, law enforcement, and digital arenas, we are proud to have created a bespoke Insured model to return lost revenue to the rights holder, and at the same time influence and disrupt digital piracy en masse, whilst upholding the virtues of a free internet. At Integro, we are well placed to take advantage of our long-standing and respected relationships in the global media and entertainment sector to efficiently bring Piracy Protection to market.”
“This is a first of its kind product that tackles a real challenge for the film and entertainment industry, and reduces the risk of enforcing actions,” advised Paul Hillier, Senior Film/TV broker. “Innovating like this is at the heart of Integro’s business and our values as a team. Intellectual Property matters deeply to the film and entertainment industry, and Integro is committed to play its part in the development of products that foster and protect a world-leading IP environment.”
“Integro is committed to supporting the Film and TV sector, so we are keen to distribute and share any initiative or product that prevents the industry from losing hard-earned revenue, by tackling the illegal streaming and downloading of content,” confirmed Tim Thornhill, Head of UK Sales at Integro.