The second annual Contingent Risk Insurance Conference (CRICON II), hosted by CAC Group, was held at the iconic Mayflower Hotel in Washington, D.C., drawing a 15% larger crowd than its inaugural session last year. This uptick in attendance is indicative of the growing interest in contingent risk insurance among legal and financial circles. Former Solicitor General Paul Clement delivered the keynote address, with discussions featuring a variety of experts from insurance, litigation finance, and law firms actively engaged in contingent risk insurance today. The expansion of CAC’s contingent risk team reflects increased activity in this burgeoning insurance sector.
The discussions at CRICON II revealed a dual-faceted scenario for intellectual property (IP) owners: on one side are the challenges and evolving landscape of Judgment Preservation Insurance (JPI) policies, and on the other are the expansive opportunities presented by portfolio-based insurance products. Current headwinds in JPI markets suggest that IP owners can expect stricter due diligence, lower claim limits, and higher premiums. The unpredictability and bias of federal circuits toward large judgments further complicate the deployment of JPI for patent holders, although opportunities within this segment persist.
Meanwhile, the appetite for portfolio-based products among insurers reflects a maturing market keen to leverage the dynamic nature of patent licensing and enforcement revenues. Firms with strong portfolios are poised to engage with this advancing market, bringing the necessary supply to meet the growing demand. The evolving insurance landscape, which seeks to benefit IP owners, is fueled by collaboration with forward-thinking brokers like the CAC Group team.
You can delve into more about the insights shared at the conference in the full article on Above the Law. Gaston Kroub, who attended and contributed insights from the event, has emphasized the potential growth of contingent risk insurance as it connects with IP licensing and enforcement efforts. It remains to be seen how this intersection evolves into 2025 and beyond, but current indicators suggest a promising expansion on the horizon.