Markel UK, the retail division of Markel International, has developed MarkelUKonline, its online quotations system, so that brokers will now be able to bind Professional, Management and Specialty risks online.

Reflecting the efficiencies of web based transactions, policies will normally be issued within three days and brokers dealing on line will benefit from an additional 2.5% commission.

A range of new property products has also been added to the website.

Furthermore, when brokers arrange more than one type of insurance, documentation will be issued as a single combined policy wherever possible.

The binding facility simplifies the placement of cover for small business and offers brokers more scope for supporting new business initiatives and for cross-selling different types of insurance product.

Covers bound online are subject to a simple ‘Statement of Fact’, and all policies use standard Markel UK wordings.

Steve Carroll, Managing Director of Markel UK, commented: “ We are committed to providing our brokers with excellent service and to helping them to better develop their businesses. Binding through the MarkelUKonline website will make arranging cover a much easier, more rapid process. It will reduce broker’s administrative burdens and ease the task for them of offering a wider range of insurance products to their customers.“

Ends

For further information:
Derah McCall 
Markel International
020 7953 6732

Notes to editors:

1. Products that can be bound online through the MarkelUKonline website include:

Professional Risks  
- Miscellaneous Errors and Omissions Professional Indemnity
- Construction/Engineering Consultants Professional Indemnity
- Information Technology/Computer Consultants Professional Indemnity

Management Risks
- Directors and Officers Liability
- Employment Practices Liability
- Pension Fund Trustees
- Charities / Association

Speciality (Commercial) Risks
- Unoccupied Premises
- Offices
- Professional & Student Lets
- Guesthouses / Hotels

2. Markel International Limited is a specialty property and casualty insurer. Based in London and comprising the international operations of Markel Corporation, it wrote gross premiums in 2004 of $ 746 million. It has five operating divisions writing business either through Markel Syndicate 3000 or through Markel International Insurance Company Limited.

3. Markel Corporation markets and underwrites specialty insurance products and programs for a variety of niche markets.  In each of these markets, the Company seeks to provide quality products and excellent customer service so that it can be a market leader.  The financial goals of the Company are to earn consistent underwriting profits and superior investment returns to build shareholder value.