Fashion and Insurance? A Better Match Than You May Think

As unlikely a pair as they may seem, the fashion industry and the insurance industry do overlap in some important ways. Whether they are designers, retailers, manufacturers or modeling agencies, insurance is crucial to the individuals and companies in the fashion industry. Three key areas where these industries intersect are intellectual property, employment and antitrust, according to Matthew F. Putorti and Kimberly Buffington of Pillsbury Winthrop Shaw Pittman LLP.
In their recent article, Beauty and the Beast: Insurance in the Fashion Industry, they point out that insurance can help to expand the protection of intellectual property assets in an environment characterized by constantly evolving statutes and global variables.
Insuring against costs associated with employees is important. Employee Practices Liability insurance can help retailers protect against the costs of litigation related to complaints against employee practices, for example. And there are antitrust implications to think about when considering insurance in the fashion industry, particularly now, as the industry faces a recent trend in prosecutions of alleged price-fixing in high-profile markets among modeling agencies, among other challenges.

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