RICHMOND, Va., Feb. 3, 2025
/PRNewswire/ -- In an effort to better serve its clients, Markel,
the insurance operations within Markel Group Inc. (NYSE: MKL),
announced today that it will streamline its US professional
liability products into four separate pillars effective
immediately. These pillars will consist of management liability,
errors and omissions (E&O), cyber, and financial
institutions.
As part of this realignment, Markel will move its access point
for Public Directors & Officers (D&O) and large financial
institutions coverage to the company's Bermuda Professional
Liability platform led by Sandra
Soares, which is viewed as Markel's center of excellence for
Public D&O and large financial institutions underwriting. The
step aligns with earlier actions taken to streamline access points,
including the step taken in September
2024 to move the company's London Risk Managed Professional
Liability portfolio to this same center of excellence in
Bermuda.
"After careful consideration and evaluation, we believe this
streamlined underwriting approach will lead to improved consistency
for our customers and trading partners. It will also make it easier
for them to do business with us," said Alex
Martin, President, Markel
Specialty. "This move further takes greater advantage of our
strong Bermuda capabilities,
leveraging our underwriting expertise, gaining economies of scale,
and reinforcing our overall strong commitment to professional
liability. This more focused and streamlined underwriting approach
will also lead to greater consistency and improved financial
outcomes for the business."
Markel's US Professional Liability platform will move forward
under the continued leadership of Sal
Pollaro, with segment leadership under Pollaro consisting of
Management Liability led by Craig
Graff, E&O led by Paul
Melone, Financial Institutions led by Travis Pearson and Cyber led by Lou
Botticelli.
About Markel
We are Markel, a leading global specialty
insurer with a truly people-first approach. As the insurance
operations within the Markel Group Inc. (NYSE: MKL), we
operate the Markel Specialty, Markel International, and
Markel Global Reinsurance divisions, as well as State
National, our portfolio protection and program services operations,
and Nephila, our insurance-linked securities operations. Our broad
array of capabilities and expertise allow us to create intelligent
solutions for the most complex risk management needs. However, it
is our people – and the deep, valued relationships they develop
with colleagues, brokers and clients – that differentiates us
worldwide.
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