Markel International is introducing a new media and entertainment product offering, which will serve as an “all-encompassing solution” for dealers and policyholders operating in the room.
According to Markel, the new agencies and entertainment policy wording combine its existing media production and media liability wordings into one comprehensive policy for production companies – particularly those registered in the UK and European Economic Area (EEA). It is designed to be a cross-class penalty product, which can cover cast, media, extra expense, property, terrorism, employer’s and general commercial liability, as well as the content of the production. The commodity also offers limits of up to US$37.5 million for the package and US$5 million for media liability.
“We are delighted to declare the launch of Markel International’s media and entertainment policy wording,” said Markel International senior underwriter of entertainment Pippa Stone. “Our latest product will enable Markel’s brokers and policyholders to transact a simplified process, thanks to one proposal form and an easy-to-understand wording.”
Stone explained that, previously, Markel’s media and entertainment clients would have to take out two policies, but the new product now covers both physical assets and the final content, “providing that extra level of security and insurance when they need it most,” the senior underwriter said.
“It is this combined media and entertainment solution which makes our product truly unique to the markets that we serve,” Stone added.
“Over the last few months, Markel’s media and entertainment teams have become more aligned, given the synergies between both business areas and the specialist brokers that we both share,” said Markel International’s senior underwriter of professional indemnity, telecommunications, media, and technology Nicola Marshall.
“As a result of the closer collaboration, we are delighted to offer this combined policy, that we know brokers and customers have been looking for, which will provide them with a one-stop shop and enable us to provide a more efficient and streamlined service by giving all covers under one policy,” Marshall said.