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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