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Specialist insurers help brokers diversify revenue and understand cyber insurance complexities.
Published on 22 October, 2024
Jo Sykes, divisional director – Broker & ATE at Markel, participated in a panel at Insurance Age’s Broker Expo 2024, discussing how specialist insurers can aid brokers in diversifying their revenue streams and expanding their business portfolios.
During the debate, Sykes highlighted the crucial role specialist insurers play in clarifying the complexities of cyber insurance. While brokers possess some expertise, they noted that specialist insurers are uniquely positioned to provide the essential training needed for brokers to fully comprehend the intricacies of cyber coverage. This education is vital, as many clients erroneously believe they have adequate cyber risk coverage when they do not.
Sykes also emphasised the need for brokers to master the basic concepts of cyber insurance to close protection gaps and ensure their clients receive the appropriate coverage.
Read the full article here.
Markel is committed to supporting brokers in the UK and we will continue to invest in ways to maintain service as the business grows.