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

In the intricate and rapidly evolving world of intellectual property (IP), safeguarding innovations remains a significant challenge for many businesses. While patents, trade marks, and copyrights provide vital legal protection, enforcing these rights can be prohibitively expensive—particularly for small and medium-sized enterprises (SMEs). David Bloom, founder of Safeguard iP, the UK's only dedicated IP insurance broker, is determined to change this by making IP protection both accessible and affordable.

In this edition of our "Meet the IP Professional" series, we speak with David about his journey from IP litigator to insurance broker, why IP insurance matters, and how Safeguard iP is empowering businesses to defend their most valuable assets.

From IP Litigation to IP Protection

David Bloom began his career as a solicitor specialising in IP law at highly respected firms including Olswang LLP and Pinsent Masons. As a litigator, he handled numerous patent disputes and trade mark cases involving large corporations as well as SMEs.

"I saw first-hand how devastating IP litigation could be for SMEs," David recalls. "Many businesses mistakenly believed having a patent or trade mark was enough to protect them. In reality, these rights simply provide the legal grounds to take action if infringement occurs—and litigation is incredibly costly."

Repeatedly, David encountered SMEs who, despite holding strong IP rights, couldn't afford to enforce them. Larger companies could absorb these litigation costs, but smaller firms frequently faced financial ruin.

"The system felt fundamentally unfair," David explains. "I realised there had to be a better way for SMEs to protect their IP without risking bankruptcy."

The Birth of Safeguard iP

Determined to offer 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 specialises exclusively in intellectual property protection.

"Existing IP insurance products often had limited coverage or were prohibitively expensive," David notes. "My goal was to help insurers develop comprehensive, affordable policies genuinely tailored to SMEs’ needs."

Safeguard iP works closely with businesses to assess their IP risks and provides tailored insurance solutions, ensuring companies can enforce their rights or defend against infringement claims without excessive financial risk.

Why IP Insurance Matters

Many businesses underestimate the risks associated with IP disputes. However, with over 500,000 new businesses incorporated annually in the UK, potential IP conflicts are increasing.

"More IP is being created than ever," David explains, "which means accidental infringement has become more common. Whether it's a start-up unintentionally infringing on an existing patent or facing a trade mark dispute, the risks can be severe."

Without insurance, companies facing IP litigation must choose between abandoning their claims or risking financial ruin. IP insurance changes this by providing financial backing for legal action.

"When businesses have IP insurance, they can respond decisively," David says. "Often, simply informing the opposing party of insurance cover leads to quicker, favourable settlements because they know you have the resources to fight."

How Safeguard iP Supports Patent Attorneys

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

"Many patent attorneys find clients reluctant to file patents because they're worried about the costs of enforcement," David explains. "Introducing IP insurance reassures clients that their rights can be protected affordably."

While UK Financial Conduct Authority (FCA) regulations prevent patent attorneys from advising on specific insurance products, they can educate clients on the availability and benefits of IP insurance, referring them to specialists such as Safeguard iP.

"Attorneys want clients to feel confident about their IP strategy," David adds. "Discussing IP insurance helps them make informed decisions about protecting their innovations."

Making IP Insurance Accessible

Traditionally, obtaining IP insurance was complex and expensive, requiring lengthy applications with unpredictable pricing.

David has streamlined this process significantly.

"Now, I just need a company's website address and annual revenue details," he explains. "We can provide quotes within 24 to 48 hours. For SMEs with a turnover under £10 million, policies are now significantly more affordable and predictable compared to a decade ago."

Typical premiums are approximately £3,500 for £1 million of worldwide enforcement and defence cover, and £2,500 for £500,000 of cover.

These improvements have greatly increased uptake among SMEs in recent years.

The Future of IP Insurance

As IP insurance becomes more widespread, David predicts further reductions in premiums and broader policy coverage.

"As more policies are sold, insurers gain more data, helping them refine risk models and lower prices," David explains. "It’s a virtuous cycle—higher adoption leads to reduced costs."

Additionally, IP insurance now increasingly includes coverage for:

• Enforcement costs (funding legal action against infringers)

• Title disputes (resolving ownership conflicts)

• Patent opposition and invalidity claims (defence against patent challenges)

Looking ahead, David hopes insurers will also develop products covering losses in IP value—for instance, if a patent's worth drops due to legal issues.

Final Thoughts

David’s mission is clear: making IP insurance accessible, affordable, and effective. His extensive legal background and deep understanding of SMEs’ challenges distinguish Safeguard iP within the market.

For businesses with valuable IP, David’s advice is straightforward: "Don’t wait until there’s a dispute to consider insurance. Having the right cover can be the difference between successfully defending your innovations or losing them entirely."

With growing awareness and easier access, IP insurance is no longer niche—it’s becoming essential for businesses seeking to protect their competitive advantage.

Get in Touch with David Bloom

To find out more about how Safeguard iP can protect your business, visit safeguardip.com or connect with David Bloom on LinkedIn: David Bloom | LinkedIn.

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