Cover stories

New Emerging Risk Products

The first, ComTech, is a broad liability insurance solution for companies in the information and communication technology (ICT) sector and the second is a standalone cyber product designed for companies across a full spectrum of industries. See our factsheets for both products below.


ComTech fact sheet

Cyber fact sheet


The division has also developed additional benefits and increased, to £10 million, the limit size for its Privacy, Data-Breach and Electronic Risks (PDE) module, which is sold as an extension to its professional indemnity policies.

All three products benefit from access to a range of specialist advisers who can provide timely and expert support in the case of a cyber event, through international law firm Reynolds Porter Chamberlain’s ReSecure data breach response service. The service provides clients with flexible advice capable of handling any type of data breach. ReSecure combines the expertise of RPC’s Data Protection Team, Blackthorn Technologies’ First Response service, which aims to bring businesses back online in the shortest possible time, Experian’s call centre response services and Mattison Public Relation’s crisis management capabilities. Cyber incidents can happen at any time and require prompt handling, so the ReSecure service offers policyholders a 24/7 helpline.

Markel’s ComTech product is aimed at the broadest range of ICT businesses, from start-up app developers, to established business-to-business IT consultancies and is designed specifically to meet the particular characteristics of ICT businesses. Risks covered include professional indemnity, third and first party cyber risk and general liability.

The ICT industry is very different to so many others and requires a tailored insurance solution. The launch of our new ComTech wording provides exactly that and we will offer coverage for a wide range of businesses across the industry. This and our new cyber policy are the first products from our new emerging risks team, with many more planned for the future. We remain committed to innovation and look forward to working closely with our broker network to promote the products.

Professional indemnity policies aimed at more traditional professions aren’t really up to the job of serving the needs of the ICT industry and, in the same way, relying on case law and legal precedents set over long periods of time is not a luxury available in such a modern and fast-moving world. Many ICT companies use liquidated damage clauses in contracts with their clients, which means the contract provides a pre-agreed level of damages without the need to go to Court. As traditional PI policies typically exclude such liabilities they are clearly not suitable for ICT industries, whereas our ComTech policy is designed specifically for them.
Markel’s standalone cyber insurance product offers both liability and first party cover. It includes an innovative “first awareness” first party coverage trigger, cover for both online and traditional privacy breaches and has dedicated insuring clauses for cyber theft, cyber extortion and telephone phreaking. The policy is modular so that clients can purchase the cover that is most relevant to their needs.

Gearing up for the future we have recently welcomed Pushpa Sriwignarajah to the team as a senior underwriter. To reflect our commitment to the market and help service our brokers, our emerging risks team will be regularly available in both Lloyd’s and at the Markel office.

Scott Bailey 
Senior Underwriter, Emerging Risks