CyberGuide - Information Security and Cyber Risk Management

Markel

Kara Owens
4521 Highwoods Parkway
Glen Allen, VA 23060
804.864.4174
[email protected]


About Markel:

Markel is an ‘A’ rated well-respected Fortune 500 company that has been writing specialty insurance since 1930. Markel has been defending against IT threats for nearly 40 years. We launched our first cyber policy which included protection against electronic pirates (now called hackers) in 1982. Our policies are designed to help our clients to address both pre-breach and post breach components. Markel’s cyber policies provide insureds what they need to safeguard their businesses – before, during and after an attack. We are constantly developing new offerings as the cyber threat landscape evolves. For example, we have recently partnered with a company called WhiteHax to assist our SME insureds. We recently launched our Cyber 360 policy Internationally and will be releasing Cyber 360 in the first half of 2020 in the United States. Our policies are offered across almost all businesses, industries and geographies with limits up to $25M per risk. We offer policies to businesses of every size, from start-ups to multinationals, in locations throughout the world. We have an established claims team with proven claims paying experience. Our sophisticated underwriting and claims team has won a number of awards and are recognized in the industry.

Survey Answers

Target Client Size
all company sizes
Does US business in
Northeast, Southeast, Midwest, Southwest, West
Does international business in
Canada, Continental Europe, Asia, Australia/New Zealand, United Kingdom
Primary Service Offering
Insurance Carrier
When did your company start writing standalone cyber insurance policies?
Prior to 2000
What are your company’s cyber insurance direct written premiums?
$50M to $100M
What percentage of your cyber insurance direct written premiums come from standalone policies and endorsements?
Standalone 81 - 90% | Endorsement 0 - 10%
What percentage of your cyber book of business is primary and excess?
Primary 61 - 70% | Excess 21- 30%
How many dedicated cyber insurance underwriters of standalone does your company have?
21-25
How many cyber-related claims did your company handle last year?
more than 100
What percentage of your cyber-related claims were covered by standalone cyber policies and other lines business?
Standalone 81 - 90% | Other Lines 0 - 10%