Markel Bermuda to lead US D&O underwriting

Markel Insurance has moved its access point for public directors & officers and large financial institutions coverage to its Bermuda professional liability platform as part of a shake-up of its US professional liability underwriting.

Markel said the shake-up meant its professional liability products have been divided into four pillars--management liability, errors and omissions (E&O), cyber, and financial institutions.

Markel said it was moving its US D&O to the Bermuda platform under the leadership of Sandra Soares (pictured) because this was viewed as its centre of excellence for Public D&O and large financial institutions underwriting. Markel moved its London risk managed professional liability portfolio to Bermuda last September.

"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 said its 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.

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