Tag: Innovation Protection

Why IP Insurance Matters: David Bloom’s Mission to Protect Innovation

In the complex and ever-evolving world of intellectual property (IP), safeguarding innovations is a challenge many businesses face. While patents, trade marks, and copyrights provide legal protection, enforcing these rights can be costly—especially for small and medium-sized enterprises (SMEs). This is where David Bloom, founder of Safeguard iP, comes in. As the UK’s only dedicated intellectual property insurance broker, David is on a mission to make IP protection accessible and affordable for businesses of all sizes.

In this ‘Meet the IP Professional’ feature, we explore David’s journey from IP litigator to insurance broker, the importance of IP insurance, and how Safeguard iP is helping businesses defend their most valuable assets.

From IP Litigation to IP Protection

David Bloom began his career as a solicitor specialising in IP law, working at the highly respected firm Olswang LLP, followed by Pinsent Masons. During his time as a litigator, he handled numerous patent disputes and trade mark cases, working with both large corporations and small businesses.

“I saw first-hand how devastating IP litigation could be for SMEs,” David recalls. “Many businesses assumed that having a patent or trademark was enough to protect them. But in reality, these rights only give you the ability to take legal action if someone infringes them—and litigation is incredibly expensive.”

Time and again, David encountered clients who, despite having strong IP rights, were unable to afford the high costs of enforcement. For larger corporations, litigation costs could be absorbed within their legal budgets, but for smaller businesses, the financial burden was often insurmountable.

“The system felt unfair,” he explains. “I knew there had to be a better way for SMEs to defend their IP without risking bankruptcy.”

The Birth of Safeguard iP

Determined to create a solution, David transitioned from law to insurance, founding Safeguard iP, the UK’s only dedicated IP insurance brokerage. Unlike general insurance brokers, Safeguard iP exclusively focuses on intellectual property protection.

“There were existing IP insurance products in the market, but they were often too expensive or too limited in coverage,” David notes. “My goal was to help insurers develop policies that truly met the needs of SMEs—affordable, comprehensive, and easy to access.”

Safeguard iP works with businesses to assess their risks and find the right insurance solutions, ensuring they can enforce their IP rights and defend against infringement claims without financial strain.

Why IP Insurance Matters

Many businesses underestimate the risk of IP disputes. However, with over 500,000 new businesses incorporated in the UK each year, the number of potential IP conflicts is rising.

“There’s more IP being created than ever before,” David explains. “As a result, unintentional infringement is becoming more common. Whether it’s a start-up unknowingly infringing on an existing patent or a company facing a trade mark challenge, the risks are significant.”

Without insurance, businesses facing IP litigation often face a tough choice: abandon their claim or risk financial ruin. IP insurance changes the equation by providing financial backing for legal action.

“When a company is insured, they can act decisively,” David says. “In many cases, just informing an opponent that you have IP insurance leads to a faster settlement—because they know you have the funds to fight.”

How Safeguard iP Supports Patent Attorneys

Safeguard iP has built strong relationships with patent and trade mark attorneys, who frequently refer clients to David’s services.

“Many patent attorneys find that clients hesitate to file patents because they worry about the cost of enforcement,” he explains. “By introducing them to IP insurance, attorneys can reassure their clients that their rights can be protected affordably.”

While UK Financial Conduct Authority (FCA) regulations prevent patent attorneys from advising on specific insurance policies, they can educate clients about the existence and benefits of IP insurance, referring them to specialists like David.

“Most attorneys want their clients to feel confident in their IP strategy,” he adds. “By discussing insurance, they’re helping clients make informed decisions about protecting their assets.”

Making IP Insurance Accessible

In the past, getting IP insurance was a complicated and expensive process. Companies had to complete lengthy application forms, and quotes often came back far higher than the expected cost.

David has worked hard to streamline the process.

“Now, all I need is a company’s website address and revenue details,” he says. “I can provide a quote within 24 to 48 hours. For SMEs under £10 million turnover, policies are now significantly more affordable and predictable than they were a decade ago.”

Premiums for £1m of worldwide enforcement and defence cover are circa £3,500 and £2,500 for £500k of cover.

Thanks to these improvements, the number of businesses purchasing IP insurance has grown significantly in the last five years.

The Future of IP Insurance

As the demand for IP insurance increases, David predicts lower prices and broader coverage in the future.

“More policies mean more data for insurers, which helps them refine their risk models and reduce premiums,” he explains. “It’s a virtuous cycle—more businesses buying insurance leads to lower costs for everyone.”

Additionally, coverage is expanding. While policies traditionally covered only defence costs, new offerings now include:

• Enforcement coverage (to fund legal action against infringers)
• Title disputes (to resolve ownership conflicts)
• Patent opposition and invalidity claims (to defend against challenges)

Looking ahead, David hopes insurers will develop policies that cover the loss of IP value—for instance, if a patent’s worth drops significantly due to legal issues.

Final Thoughts

David’s mission is clear: make IP insurance accessible, affordable, and effective. His legal expertise and deep understanding of the challenges SMEs face set Safeguard iP apart in the market.

For businesses with valuable IP assets, David’s advice is simple: “Don’t wait until there’s a problem to think about insurance.” The right coverage can mean the difference between defending your innovations and losing them to legal disputes.

With growing awareness and improved accessibility, IP insurance is no longer a niche product—it’s becoming a critical tool for businesses looking to protect their competitive edge.

Get in Touch with David Bloom

If you’d like to learn more about how Safeguard iP can help protect your business, visit safeguardip.com or connect with David Bloom on LinkedIn: David Bloom | LinkedIn.

How PatWorld Supports IP Protection

At PatWorld, we understand the importance of comprehensive IP protection. We work with companies to provide Freedom to Operate (FTO) searches, Invalidity searches, and a range of other IP-related searches. Our services help businesses mitigate risks, strengthen their IP strategies, and make informed decisions before entering new markets.

To learn more about how PatWorld can support your business, check out the links below.

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