In our second edition of PFRMatters this year, we reporting back from travels to Israel, Canada and Isle of Man, as the team is exploring initatives across the globe. Read more.
Since the last edition of Market Matters, you will likely have heard of the restructure of our wholesale business which reduced the number of operating divisions from seven to three. This change has been made to make us easier to understand and access, more scalable for profitable growth of new and existing products, and operationally simpler to manage. Click here.
It’s almost three years since we published our first edition of PFR Matters. Over that time the PFR team has changed in terms of the personnel and its approach to the market. This positive change has allowed us to offer you, our brokers, better products and service. We’ve asked you for your feedback along the way and it’s been valuable in helping us hone our offering. The recent short-listing of our emerging risk team at the forthcoming Commercial Insurance Awards and the rating of our claims teams by a major international broker as ‘AAA’ (rated for response times, accessibility and technical competency) is testament that we’re doing things right. Click here
In PFR alone, we consider business in over 50 different countries. The regulatory and legislative demands are relatively easy to determine, but often the cultural nuances present the greatest challenge to doing business successfully. We rely on our own expertise as well as that of our brokers and other third parties to ensure we meet local needs. In this edition of PFR Matters we explore the cultural risks and challenges of underwriting international directors & officers (D&O) cover. Click here.
The commercial professional indemnity (PI) account has long been the largest part of the Markel PFR portfolio with a history going back to the 1970s. This brings with it a wealth of experience and expertise – and shows a commitment to the market. This experience ensures we continuously provide expert underwriting, responsive cover and excellent claims handling. To ensure we continue developing in this space I’m pleased to confirm that David Sawyer has joined us as our new senior underwriter and head of professional indemnity. David has a wealth of PI experience and I’m sure he will help us continue to offer the best service to the market. Click here.
As we sit in the PFR offices on floor 27 of 20 Fenchurch Street, we can watch the weather, mostly pretty mild, sweeping across the city and sympathise with those trying to travel in through London Bridge station. For them, roll on 2016.
For us, though, the year has started with plenty of activity and in this edition we’ll tell you about a strong new team which has joined to support our FI businesses, our new E&O policy, of interest to brokers with manufacturing clients, and about our colleagues from Markel UK, our retail business joining us to broaden the range of businesses we can cover from London. There’s also a look at the launch of our vision for how we handle claims and our team who will deliver it. Finally, in the Broker Q&A slot, we find out what Aon’s Michael Parrant says his colleagues think of him. Click here.
Another year has passed in a flash but it’s one that has seen a lot of positive change to the Professional & Finical Risks (PFR) division at Markel. During the year we have seen great new underwriters join us, new products launched, a new claims manger established and a restructuring of the claims team. These changes have been made to improve our service to brokers and respond to new and emerging risk exposures. Click here.
How we handle claims is really important to us and so we are delighted to introduce you to Gabby Folliard who in May took up the position of PFR claims manager. In our broker Q&A slot Alec Cramsie from Aon tells us about his Marmite views, as well as a few other things. Our colleagues also look at the FCA’s policies on crowdfunding, about protecting intellectual property, contract law changes, an update on the Bribery Act and Jeff Ward of Ebix Europe does some crystal ball gazing about what the market might look like in 2025, and reminds us that the technology to deliver that future exists already. Click here.
The second edition of PFR Matters digs deeper into what we think are some new and interesting emerging risks. Click here.
In this edition, PFR's managing director James Hastings gives an update on the division, while other articles look at the issues directors face from tax avoidance strategies, compulsory professional indemnity in Italy, cyber liability and an update on Markel's acquisition of Alterra. Click here.