Markel International, a unit of US-holding company Markel, has launched its new offering for the media and entertainment industry.
Markel International’s new Media and Entertainment Policy Wording is aimed at production companies registered in the UK and European Economic Area (EEA).
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The new offering combines the insurer’s existing media production and media liability wordings into one policy, which is designed as a cross-liability product.
It provides cover to cast, media, extra expense, property, terrorism, employer and general commercial liability, as well as the content of the production.
The pay-out is capped at $37.5m for the package and $5m for the media liability.
Markel International senior underwriter of entertainment Pippa Stone said: “We are delighted to announce the launch of Markel International’s Media and Entertainment Policy Wording. 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.
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By GlobalData“Previously, our media and entertainment clients would have to take out two policies, but this is no longer the case because our new product will cover their physical assets and the final content, providing that extra level of security and protection when they need it most.
“It is this combined media and entertainment solution which makes our product truly unique to the markets that we serve.”
Last year, Markel UK allied with AI-powered insurtech platform Cytora to enhance capacity, drive growth and offer better services.
