RICHMOND, Va., Oct. 6, 2017 /PRNewswire/ -- Markel
Corporation (NYSE: MKL) announced today the availability of new
coverage to meet the emerging needs of biomedical and life sciences
companies in the US primary insurance segment. Coverage is
available for product liability, professional liability, general
liability, clinical trial liability, and related medical
professional liability.
Target markets include the pharmaceutical, biotechnology,
medical device, dietary supplement, and laboratory instrument and
equipment industries. Markel has an established book of life
sciences business in the excess markets, but this is the first
foray into a primary offering.
"Making primary coverage available to both wholesalers and
retailers is a natural progression in extending our product line
expertise in life sciences," stated Matthew
Huels, Managing Director of Markel's casualty product line
leadership team. "From start-ups to research and clinical trials to
product manufacturing, we offer a product that serves the
commercial insurance needs of middle-market life sciences
companies."
Mike Morgan, Managing Director,
Casualty, Markel Global Insurance, added, "Our global experience in
this space lends itself well to working with wholesalers and
retailers in the US to grow life sciences premium. The underwriting
team is a dedicated group of experienced individuals that offers a
broad range of flexible coverages to meet the specific needs of
these insureds."
Coverage is written on a surplus lines basis and is available in
all 50 states.
Huels is based in Chicago, and
Morgan is based in New York
City.
About Markel Corporation
Markel Corporation is a
diverse financial holding company serving a variety of niche
markets. The Company's principal business markets and underwrites
specialty insurance products. In each of the Company's businesses,
it seeks to provide quality products and excellent customer service
so that it can be a market leader. The financial goals of the
Company are to earn consistent underwriting and operating profits
and superior investment returns to build shareholder value. Visit
Markel Corporation on the web at markelcorp.com.
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SOURCE Markel Corporation