Markel International, a subsidiary of Markel Corporation, has launched its new Media and Entertainment Policy Wording which combines Markel’s existing Media Production and Media Liability wordings into one comprehensive policy for production companies registered in the United Kingdom and European Economic Area (EEA).
Designed as a cross-class liability product, Markel’s offering includes the production package, which covers: cast, media, extra expense, property, terrorism, employer’s and general commercial liability, as well as the content of the production, while offering limit(s) of up to $37.5mn for the package and $5mn for the media liability.
According to Markel, this latest product offering forms an integral part of Markel’s strategy to deliver an all-encompassing solution for brokers and policyholders operating within the media and entertainment space.
Pippa Stone, senior underwriter of entertainment at Markel International, commented: “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.”
Stone explained: “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.”