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Markel Insurances

10 Mar 2021

How we achieved our five-star rating for underwriting

Just in case you’ve not already heard the good news, Markel UK has retained its maximum five-star rating in the ‘Insurance Times five-star rating report Commercial Lines 2020/2021’ – a result we’re absolutely delighted with.

Not only this, but we were one of only two insurers to receive the maximum five-star rating across all five service sectors. With underwriting expertise, flexibility and support all being the kingpin of broker satisfaction levels, we were delighted that one of these service sectors was underwriting.

Markel has long prided itself on its underwriting expertise and experience. All of our underwriters are overseen by the technical line managers for each product line, and each one of those managers has at least 15 years of experience in that particular specialism. It’s this very experience that results in them having both the knowledge and the flexibility to be able to look at risks individually and provide brokers with a personal service.

When you combine this experience and expertise with the fact that we are able to support brokers locally, it’s a recipe for very high broker satisfaction levels.

Our brokers can rely on us to deliver the bold ideas and honest actions they need to create the best possible service for their customers. You can depend on us for great, industry-leading underwriting and when we say we’re going to do something, we do it – even when others say it can’t be done.

One proof-point of our deep underwriting expertise is our extensive experience of the UK’s care and technology sector, meaning we understand the unique risks faced by those in these industries. Our dedicated care and tech underwriting team are sector experts and therefore understand and protect against the specific risks that care an tech organisations face.

A recent example of our flexible underwriting to more complex risks was within our care proposition, Markel Care. A charity struggled finding an insurer to embrace their diverse portfolio of drug and alcohol misuse work. This included detox clinics, rehabilitation programmes, drop-in centres for the homeless, support for prison leavers, and drug and alcohol awareness training (including in schools).

With our underwriting experience and expertise, we were able to create a bespoke programme, catering for the policyholder’s unique requirements. The comprehensive product replaced numerous policies with different insurers covering abuse, breach of professional duty and medical malpractice, minimising the chance of claims falling between insuring clauses.

We’re extremely proud of our underwriting team, whose role in us being awarded five stars for underwriting for the third year in a row, has been absolutely invaluable.

To learn more about our expert underwriting services and why you should Expect More from those who Do More, find out more here or get in touch.

Tagged Insurance Times Survey
Next article in series

10 Mar 2021

Coverage: How we achieved our five-star rating...