Markel UK, the specialist insurer has launched a new liability product to meet the specific needs companies in the rapidly growing technology and communications sectors.
Markel UK, the specialist insurer has launched a new liability product to meet the specific needs companies in the rapidly growing technology and communications sectors.
Markel’s technology and communications policy brings together public and products liability and cyber coverage with the mandatory professional liability section, providing robust protection under a single policy in one transaction.
Its benefits include a debt recovery helpline, provided by specialist solicitors Triton Global, which offers policyholders free advice on the realities of litigation and options to proceed when the business is faced with problems recovering outstanding fees from a customer.
The risks facing technology companies are challenging. The sector is rapidly expanding, with an evolving landscape which demands an insurance product that is as dynamic as the industry itself. Markel has been successfully underwriting businesses within this sector for over 25 years so is well placed to understand the potential risks that are involved.
Confident that the new product meets the broad range of needs of the sector, Liam Greene, technical line manager, professional and management risks, commented: “We listened to broker feedback and, as a result, created an accessible product for freelancers and general technology and communications businesses that are time-pressed and need a simple solution. At the same time it was important to recognise the more niche or specialist companies that require bespoke underwriting and risk management”.