From Yahoo Finance: 2025-05-14 07:02:00

Markel Insurance, part of Markel Group, has introduced a specialized cyber insurance product aimed at covering indirect losses from acts of war. Developed by Markel International’s cyber team in London, the offering provides a safety net for large corporate clients against war-related cyber activities.

This “wrap-around” solution is designed to complement existing cyber insurance policies, whether underwritten by Markel or other insurers. Markel has set a fixed aggregate limit specifically for this new product, offering it directly under their brand with legal and financial backing.

Markel has announced an initial coverage limit of up to $5 million per risk for this cyber insurance solution. If new war exclusions are stricter, Markel can replace coverage lost from the insured’s prior policy, ensuring continuous protection for clients.

Markel International cyber director, Chris Burgess, stated that this new product addresses the evolving needs of clients who seek cyber cover for the indirect impact of war. The low initial limit is a step towards providing a market-wide solution for prevalent risks, demonstrating Markel’s commitment to meeting client needs.

This development comes after Markel Insurance recently launched a clinical trials insurance product, expanding their offerings to cater to various industry needs. “Markel unveils specialist cyber cover for collateral losses in war” was originally published by Life Insurance International, a GlobalData owned brand.

Read more: Markel unveils specialist cyber cover for collateral losses in war