Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), announced the launch of its new FintechRisk+ insurance policy, underlining its long-term commitment to provide market-leading coverage and service solutions for fintech companies in an increasingly complex market.
Markel’s FintechRisk+ policy provides financial services and technology liability, directors and officers (D&O) liability, theft and cyber protection “for UK and international fintech businesses with limits up to USD $20 million.”
The policy offers enhanced business interruption (BI) coverage, “as well as several new cyber extensions, including betterment, crypto jacking, reward coverage and telecom fraud.”
UK policyholders taking out FintechRisk+ will also “have unlimited access to Markel’s Tax and Legal advisory services, which include a 24/7 help line for business and employment matters, debt recovery support, contract reviews, as well as help with grants, funding and R&D tax relief consultancy, among other benefits.”
In addition to those services, insureds can “access online cyber training and a cyber risk management toolkit via Markel’s eRisk Hub, so they can manage their risk exposures effectively.”
As noted in the update, Markel is a “global specialty insurer with a truly people-first approach.”
As the insurance operations within Markel Group Inc. (NYSE: MKL), they operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, “as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations.”
Their broad array of capabilities and expertise allow them “to create intelligent solutions for the most complex risk management needs.”