RICHMOND, Va., Sept. 15, 2017 /PRNewswire/ -- Markel Corporation
(NYSE: MKL) announced that it has enhanced the policy form and
protections for hard-to-insure law firms which can no longer secure
coverage in the admitted markets. Markel has been insuring lawyers
and law firms for 47 consecutive years, and this coverage is
available on an excess and surplus (E&S) lines basis using a
claims-made policy form. Highlights include: disciplinary
proceedings coverage up to $50,000;
policy limits of $5 million per
claim/aggregate; coverage for breach of network and information
security system; and new optional coverage enhancements—mutual
choice of counsel, subpoena coverage, and expanded consent to
settle provisions.
Target risks are law firms with 3 to 50 attorneys. Risk
management services include a risk management hotline, and claims
are adjusted by an in-house, experienced, dedicated team of Markel
professionals.
Scott Culler, Senior Managing
Director at Markel, remarked, "Keeping our professional liability
policies current and ensuring that we are offering the range and
types of coverage that our customers require is a first priority
for us. Insuring hard-to-place risks is one of the things that
Markel is known for, and these enhancements build on a long history
of providing necessary and multi-dimensional coverage for
hard-to-insure law firms."
Robin Russo, Chief Underwriting
Officer at Markel, added, "Professional liability is a core line of
business for Markel, and we are making real improvements to many of
our forms and policies. We have a corporate commitment to getting
closer to our customers, innovating, developing new products, and
improving existing products. This enhancement for law firms is a
great example of Markel surveying the marketplace, listening to our
business partners, and responding with a better, more
customer-centric product."
The product is available through regionally-based underwriting
teams located in Richmond, VA;
Chicago; Plano, TX; Red Bank,
NJ; New York City;
Alpharetta, GA; Scottsdale, AZ; Woodland Hills, CA; and, San Francisco.
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 operatingprofits
and superior investment returns to build shareholder value. Visit
Markel Corporation on the web at markelcorp.com.
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SOURCE Markel Corporation