Should I take out “Intellectual Property Protection Insurance” and is the insurance policy assessed for individuals or SME, or assessed on each separate design project? How do I assess the amount of IP Insurance protection required?

Yes, in short, if you can afford IP insurance we would recommend that this is taken up. However, premiums vary from company to company and it would be sensible to shop around to see what cover is available before you commit, as you would with, for example, car insurance. ACID has tried for many years to introduce IP Insurance, sadly unsuccessfully, because the premiums were too high and the threshold of acceptance for claims too difficult to navigate. However, we do keep researching this area because we believe it would make a significant difference in deterrence and prevention against IP theft.