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Markel Programs

Targeting on niche property & casualty programs

There is an excitement at Markel—one that comes from innovating, creating, striving for a better way, sharing success with others—and winning. Markel Programs is a strategic part of our plans, and we are interested in engaging producers to create and implement more delegated authority programs.

Markel has a commitment to succeed that is evident in what we call the “Markel Style.” As an organization, we believe in hard work and a zealous pursuit of excellence. At Markel, we are encouraged to look for a better way to do things—to challenge, to grow, and to maintain our long standing underwriting profitability.

So you ask, “Why is this important? Why Markel for program business?”

Markel has historically reinvented itself to build for the future. We have recently completed a company-wide restructuring that positions us to improve relationships and services to our producers. Under the leadership of Richard J. Wiseley, Jr., managing director of Markel Programs, we have relocated our professional staff and current program business into a single location at our headquarters in Glen Allen (Richmond), Virginia.

“This move gives us a central focus to program business on a nationwide basis,” said Wiseley. “It provides a one-stop approach for reinsurance intermediaries, managing general agencies, and program business partners. Our goal,” he continued, “is to identify possible business opportunities on an individual product, industry niche, or geographical basis and employ the best Markel and producer resources available.”

Markel Programs’ dedicated associates will expand our business and bring value to our partners by delivering growth for them while providing quality products and profitable underwriting outcomes. F. Michael Crowley, president of Markel’s specialty division, stated, “Rick and his team of professionals are central to our strategic plan. We are committed to Markel Programs and committed to Target Markets. We will strongly support our existing programs and look forward to adding new business partners and new programs.”

Markel Programs will evaluate each business opportunity individually and engage the best and brightest Markel associates in plan design, operations, and marketing to the benefit of our business partners to whom we delegate authority. Generally, we plan for a program that will achieve $3 million to $5 million in volume during the first two years of program implementation, with a long-term goal of $7 million to $15 million per program. Markel handles claims and negotiates compensation that fits the opportunity and the business model.

Our target is niche property and casualty programs. However, we do not have pre-conceived ideas about products or industry niches. We want to talk to you about your opportunities and ideas.

Now is a good time to learn and experience more about Markel’s commitment to policyholders, producers, and program business. As evidenced by our reaffirmed “A” (excellent) rating by A.M. Best Company, we are financially positioned for growth, and Markel Programs is a key part of our strategic plan. Markel Corporation is a Top 100 Insurance Group* known for our underwriting skill and consistent performance. We offer both admitted and nonadmitted product solutions.

“This is an exciting time to be a business partner of Markel,” said Crowley. “We hope that you will engage Rick Wiseley and his team in conversation about Markel Programs.”

* Source - National Underwriter Property & Casualty, July 20, 2009