Global specialty insurer Markel announced that it is reorganizing its U.S. professional liability products portfolio, building on similar actions taken on its London professional liability book in September last year.

The access points for U.S. public directors and officers and large financial institutions coverage and for the London Risk Managed professional liability portfolio will now both be Bermuda, viewed as Markel’s center of excellence for public D&O and large FI underwriting.

Sandra Soares leads the Bermuda platform.

In an effort to better serve its clients, Markel is also streamlining its U.S. professional liability products into four separate product pillars effective immediately: management liability, errors and omissions (E&O), cyber, and financial institutions.

“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, in a statement.

“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 U.S. Professional Liability platform will move forward under the continued leadership of Sal Pollaro.

Segment leaders will be Craig Graff for management liability, Paul Melone for E&O, Travis Pearson for financial institutions and Lou Botticelli for cyber.

Source: Markel