RICHMOND, Va., Nov. 9, 2022 /PRNewswire/ -- Markel (NYSE: MKL)
has announced the launch of an enhanced life sciences product
liability offering which is also now available on admitted paper.
This expanded and enhanced offering provides broader access to
partners and insureds by delivering specialized insurance solutions
in the ever-evolving life sciences industry.
This newly enhanced policy offers customers tailored solutions
to include industry specific coverages such as clinical trial
coverage, class 1 product recall expense coverage, and more. The
policy also spans the medical device, pharmaceutical, biological,
dietary supplement, and cosmetic industries through the entirety of
the product life cycle. This means that insureds can obtain
coverage from the beginning of the research and development stage
and all the way through commercialization.
"Markel is proud to be an insurance provider that now offers
broadened and expanded accessibility for products-completed
operations, error or omission, and general liability coverage with
our enhanced life sciences liability insurance policy," said
Mary Ann Stewart, Director, Life
Sciences. "Markel joins a small group of carriers that offer this
capability. Our enhanced offering can be paired with a suite of
life sciences industry-specific coverage enhancements via
endorsement, and underscores Markel's deep commitment to the life
Markel partners will have expanded accessibility to this
offering and will be able to work with its specialized and
experienced life sciences underwriting, claims and loss control
team, who understand the need for tailored products and services.
Additionally, Markel's enhanced primary offering is complemented by
excess liability for the life sciences industry.
"Markel is committed to continuing to address our customers'
unique and emerging exposures by providing specialized, innovative
solutions within the life sciences industry," said Jane Peterson, Chief Underwriting Officer,
Markel Specialty. "We're excited to
continue to partner with our brokers and customers to make it
easier to obtain admitted coverage."
More information about Markel's life sciences enhanced product
offering can be obtained at
Markel 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. Coverage is underwritten by one or
more insurance company subsidiaries of Markel. Certain
products are provided through various non-admitted insurance
company subsidiaries of Markel and are offered through licensed
surplus lines brokers. Markel® is a registered trademark of
the Markel Corporation. Visit Markel on the web at
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SOURCE Markel Corporation