An independent insurance broker does not work for any insurance company.
We work for you.
Our job is to negotiate a policy that fits your needs, not sell you a policy that benefits the insurance company.
Each of the dozen or so providers for IP-related insurance has a particular interest. Some companies like semiconductor IP, while other companies prefer medical devices. (Nobody seems to like pharmaceutical patents, by the way.)
Also, each policy has different sets of triggers which pay for your loss, different amounts they will pay in certain circumstances, and so forth. Our job – as independent brokers – is to negotiate with the underwriters to address your specific needs.
For very simple situations, there are policies that are, more or less “off the rack.” These policies have standardized pricing and can be issued very quickly.
Other times, your risk exposure might not fit a cookie-cutter approach, so there is room to tailor the coverage.
Note that custom-designed insurance policies do *not* mean expensive. In many cases, a broker can tailor-make your policy so that you eliminate coverage for things you don’t need.