markel international

Product Guide2011

www.markelintl.com

Your global insurance partnerMarkel International provides a wide range of insurance solutions through a growing networkof international offices. We have offices in London, Madrid, Singapore, Stockholm, Montrealand Toronto. We also have seven retail offices across the UK.We focus on niche markets and specialty lines, and have nearly 80 years’ experience as a

leading insurance name.

Our product range is spread across seven divisions:» Equine and livestock» Marine and energy» Non-marine property» Professional liability» Retail» Specialty» Trade creditWithin these divisions we can create products that are tailor-made for our clients’ needs. Weare always looking for new products and encourage brokers to come to us with their ideas.

1MARKEL INTERNATIONAL PRODUCT GUIDE 2011

Facts and figures

HistoryMarkel International is a subsidiary of Markel Corporation, the US-based property and casualtyinsurance group headquartered in Richmond, Virginia. Markel Corporation has been operatingsince the 1930s, beginning as an insurer for the transportation industry, and has gradually widenedits product range and moved into new markets. Markel International was created in 2000.

RatingsMarkel International Insurance Company Ltd (MIICL):A.M. Best A (Excellent)Fitch A (High)

Markel Syndicate 3000:A.M. Best A (Excellent)Moody’s A- (Good)

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Commercial entitiesIn the UK, Markel International operates through twocommercial entities:» Markel International Insurance Company Limited (MIICL)» Markel Syndicate 3000, a 100% owned Lloyd’s corporatesyndicate.

MIICL:» Is licensed for insurance in all EU countries» has a surplus lines licence in 47 American states plusDistrict of Columbia and US Virgin Islands

» is an Accredited Reinsurer in 47 American states plusDistrict of Columbia

» can write insurance in many overseas territories andreinsurance in most countries around the world.

Markel Syndicate 3000 benefits from Lloyd’s global licencesand can therefore write insurance and reinsurance businessworldwide. Our overseas operations write business into bothMIICL and Syndicate 3000.

ContentsEquine and Livestock 4Marine and energy 10Non-marine property 20Professional liability 24Specialty 30Trade Credit 38International network 42


BloodstockLivestockAquaculture4

Equine and livestockMarkel International is a leader in the highly specialist area of bloodstock,livestock and aquaculture insurance.Our expert underwriting teams in London offer cover throughout the world,

giving brokers personal contact and support, combined with the largecapacity a global insurer can provide.

MARKEL INTERNATIONAL PRODUCT GUIDE 2011 5

Equine and livestock: BloodstockWe undertake an extremely thorough underwriting approachto writing bloodstock business. This involves veterinaryconsultation and research by professional bloodstock agentsand less likelihood of time-consuming and costly claims disputes.

Bloodstock products:» All risks of mortality» Theft» Specified perils» Stallion permanent disability» Stallion first season infertility» Stallion availability» Stallion loss of income» Barrenness - prospective foal

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Key pointsTerritorial profile:WorldwideSyndicate 3000:Lloyd’s paper

Contact usMarkel Internationalswitchboard:+44 (0)20 7953 6000www.markelintl.com

Equine and livestock: LivestockTo assure our brokers and clients of appropriate and fairly-priced livestock products, we combine technical insuranceexpertise, statistical records and a deep knowledge of thelivestock market. Our underwriting approach also involvesveterinary consultation and research by professional livestockagents prior to inception.

Livestock products:» All risks of mortality» Restricted perils» Theft» Limited government slaughter» Business interruption» Accidental and external Injury

Key pointsTypical client profile:livestock farms, zoos,aquariums and exoticanimalsTerritorial profile:WorldwideSyndicate 3000:Lloyd’s paper



Equine and livestock: AquacultureTo meet the evolving needs of this rapidly expanding industry, Markel International now offers adedicated aquaculture underwriting team. We can provide comprehensive coverage to bothon-shore and off-shore farms, including in-transit cover.

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Aquaculture products:» Pollution» Malicious acts, theft, predators (notwithstanding exclusion2 herein)

» Flood, tidal wave» Storm damage, subsidence, landslip, structural failure,breakage or blockage of any part of the water supply system

» Drought, fire, lightning, explosion, earthquake» Freezing, frost damage, frazil ice» Mechanical breakdown or accidental damage to machineryand other installations

» Electrical breakdown, failure or interruption of theelectricity supply, electrocution

» Deoxygenation due to vegetation, microbiological activity orhigh water temperature

» Any other change in concentration of the normal chemicalconstituents of the water, including supersaturation withdissolved gases and change in pH or salinity

» Disease

Key pointsTypical client profile:On-shore and off-shorefarms including salmon,cod, sea bream, sea bass,tuna and oystersTerritorial profile:WorldwideSyndicate 3000:Lloyd’s paper



CargoEnergyHullLiabilitySpecieWarYachts10

Marine and energyOur marine and energy division covers a comprehensive range of risks for adiverse range of clients. We insure multinational companies, nationalindustries and private individuals.Our team of highly experienced underwriters is spread across Markel

offices in London, Singapore and Sweden. They travel extensively to buildstrong and lasting relationships with clients, offering a flexible service wherecover can be adapted to suit individual requirements.We typically lead a significant proportion of the business that we accept.

We also take a highly proactive approach to claims issues, with expertsensuring that claims are handled in a timely and efficient manner.


Marine and energy: EnergyOur energy coverage is comprehensive. It encompasses allaspects of upstream and midstream oil and gas activity, on aworldwide basis, from construction through to propertydamage, business interruption and liability.

Energy products:» Business interruption or loss of production income» Construction of energy related structures» Control of well (process of drilling)» Liability» Physical damage to installations

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Key pointsTypical client profile:MultinationalTerritorial profile:WorldwideSyndicate 3000:Lloyd’s Box No. 94MIICL:The Markel Building,49 Leadenhall Street


Marine and energy: LiabilityWe cover a wide spectrum of onshore and offshore energyliabilities and traditional marine exposures.These include liabilities potentially incurred by charterers,

stevedores, terminal operators, ship repairers andwharfingers.

Energy liability products:» Contracting companies» Exploration and production companies (E&P)» Lease operators

» Pipeline companies

» Utilities

Key pointsTypical client profile:Multinational, nationalTerritorial profile:WorldwideSyndicate 3000:Lloyd’s Box No. 94MIICL:The Markel Building,49 Leadenhall Street



Marine and energy: HullWe offer cover for primarily blue water, ocean-going tonnageduring both construction and operation. This cover is providedon a total loss/increased value and an all risks basis.

Hull products:» Hull physical damage» Increased value» Mortgagee’s interest» Purchaser’s interest/TLO interests» Builder’s risks

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Marine and energy: CargoWe underwrite many types of cargo risks on a worldwidebasis, covering transit of goods from manufacturer tocustomer and including storage. This cover is based on allrisks of physical loss or damage, but with wordings tailored tospecific requirements.

Cargo products:» Airspares

» Foodstuffs

» Machinery and equipment

» Minerals

» Oil and gas

» Pharmaceuticals

» Project cargo including marine delay instart-up/consequential loss

Key pointsTypical client profile:Multinational, nationalTerritorial profile:WorldwideSyndicate 3000:Lloyd’s Box No. 94MIICL:The Markel Building,49 Leadenhall Street



Marine and energy: SpecieOur specie account handles all aspects of precious andvaluable item insurance, including fine art, securities, bullionand precious metals. The cover is based on all risks ofphysical loss or damage, but with wordings tailored tospecific requirements.

Specie products:» Cash in transit» Fine art (private collections, museums, exhibitions,galleries, dealers)

» General specie (securities, bullion, precious metals,diamonds, cash)

» Jewellery (wholesale, retail, manufacturing, exhibitions)» Mining risks

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Key pointsCore market:Primary and excessTypical client profile:Multinational, nationalTerritorial profile:WorldwideSyndicate 3000:Lloyd’s Box No. 94MIICL:The Markel Building,49 Leadenhall Street


Marine and energy: YachtsThe yacht business we write is mainly for mega yachts andlarger pleasure craft, with a focus on professionally crewedvessels over 15 metres in length.Cover is flexible and offers clients a range of options

including our own Markel all risks yacht product as well asother standard wordings.

Motor yacht products:» All risks (physical loss/damage) including comprehensiveliabilities

» IV/Total loss» Builder’s risks» MII/Lessor’s interest

Key pointsTypical client profile:Yachts with a value of £1m +Territorial profile:Yachts in European watersSyndicate 3000:Lloyd’s Box No. 94MIICL:The Markel Building,49 Leadenhall Street



Marine and energy:WarWe cover the hulls of ships and aircraft, and other ancillaryinterests, against war and associated perils.

War products:» Physical loss or damage due to perils of war

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MGAThe MGA division has a strong foundation in the London market and writesbusiness worldwide. Business is written on a binding or delegated authoritybasis. The portfolio covers a variety of property lines; and can also providecommercial general liability, in select jurisdictions. The majority of coverholders are in the US and in Canada. Current business plans include furtherinternational expansion.


MGAdivisionThe portfolio includes a variety of coverages:» Property» Liability» Packages» OCP» Inland marine» Auto physical damage

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MGAproducts include:» Artisan Contractors» Builders Risk» Contractors Equipment» Day care – child and adult» Dealers Open Lot» Garage Keepers Legal Liability» General Liability» Habitational – rental dwellings, apartments, condos» Hospitality – restaurants, bars, taverns, motels, hotels» Lessors Risk» Manufacturing – premises and light products exposures» Mercantile» Motor truck cargo» OCP» Specified premises» Truckers Physical Damage» Vacant properties» Warehouse Legal Liability

Key pointsTypical client profile:Small to medium sizedbusinessesTerritorial profile:Mainly USASyndicate 3000:Lloyd’s Box No. 251MIICL:The Markel Building,49 Leadenhall Street



Directors’ andofficers’ liabilityGeneral liabilityProfessionalindemnity24

Professional liabilityOur professional liability division leads the market in cover for professionalliability risks.We have built a reputation for innovation, professionalism and superior

service – and for applying the strongest underwriting principles to everythingwe do.We offer brokers and clients a thorough and realistic approach to covering

professional risks. This is delivered through progressive policy wordings andproduct literature, supported by expert presentations and technicalinformation on increasingly complex risks.On the claims side, our team includes experienced solicitors and barristers

with in-depth knowledge of the risks faced by our insureds.The team works closely with brokers and their clients to minimisepotential losses.


Professional liability: Directors’ and officers’liabilityOver the last 20 years we have developed an innovative rangeof D&O products that enable us to offer blanket protection fordirectors and officers. We cover many different types andsizes of company, both public and private, and includecommercial and financial risks.

Directors’ and officers’ liability products:» Directors’ and officers’ liability (D&O)» Employment practices liability (EPL)» Limited liability partnership (LLP)» Outside directors’ liability (ODL)» Officials’ indemnity

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Key pointsTypical client profile:All typesTerritorial profile:Worldwide excluding USSyndicate 3000:Lloyd’s Box No. 262A,260A, 2521AMIICL:The Markel Building,49 Leadenhall Street


Professional liability: General liabilityWe aim to provide precisely the cover you’re looking for. Wecan combine professional indemnity and general liabilitycoverage in one seamless policy, or write a standalonegeneral liability policy for you. We can even create bespokewordings for specific client sectors or affinity groups.

General liability products» Combined public/pollution/products liability occurrenceform and errors and omissions claims made form available

» Defence costs paid in addition to the limit of indemnity(other than under errors and omissions section)

» Worldwide jurisdiction available» Cross liabilities» Sudden and accidental pollution liability (excluding US)» Tool of trade (vehicles) risk» Damage to rented premises» Buildings temporarily occupied

Key pointsTypical client profile:SME, revenue toGBP 100MTerritorial profile:Canada, Italy, Asia, MiddleEast, South Africa, Spain,UK, Australia and CaribbeanSyndicate 3000:Lloyd’s Box No. 262A, 260A,2521AMIICL:The Markel Building,49 Leadenhall Street



Professional liability: Professional indemnityWe can assist most principal professions as MarkelInternational has standard policy wordings drafted to meettheir specific coverage needs. At the same time, we have theexpertise to tailor coverage to other professions, which is whywe represent such a variety of disciplines.We also have dedicated teams for both UK-domiciled and

international business, and while our underwriters areavailable at Lloyd’s and at our offices, risks can also besubmitted electronically.

Professional indemnity products:» Traditional professional classes» Charities and associations» Educational establishments» Financial advisers» Intellectual property rights» IT consultants» Medical malpractice» Media and libel risks» Pension fund trustees

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Key pointsTerritorial profile:Worldwide excluding USASyndicate 3000:Lloyd’s Box No. 262A,260A, 251AMIICL:The Markel Building,49 Leadenhall Street


Accident andhealthCasualty treatyreinsuranceContingencyCrime (financialinstitutions)Property openmarketProperty treatyreinsurance30

SpecialtyOur specialty division comprises a number of diverse specialist insurance andreinsurance lines. We are market leaders or significant followers in all theselines.Business is written by dedicated underwriters at Lloyd’s and by Markel

International Insurance Company Limited.The division has a mandate to play a proactive and creative role in the

development of new product concepts in a wide range of areas.


Specialty: Accident and healthOur accident and health business focuses upon Londonmarket high risk, sports, schemes, affinity, group personalaccident and business travel.We will differentiate ourselves in the market through our

underwriting skill and flexibility with the ability to tailorbespoke solutions and provide quick underwriting decisions.

Accident and health products:» Group – SME related group personal accident and businesstravel

» London Market/Lloyd’s – Large market risks, delegatedunderwriting facilities, high risk, large values, corporate PA& business travel

» Schemes/Affinity – NAC programmes, value add-ons,education, charities, unions, amateur sports, hospital cashplans, locum covers

» Sports – focusing upon professional football, motorsports,equestrian, golf, ski

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Key pointsTypical client profile:Full range from small tolargeTerritorial profile:WorldwideSyndicate 3000:Lloyd’s Box No. 260, 262MIICL:The Markel Building49 Leadenhall Street


Specialty: Casualty treaty reinsuranceOur casualty treaty reinsurance business mainly supportsspecialist writers of niche motor products in the UK. Thiscovers areas such as classic cars, high performancevehicles, taxis and motor traders.We focus largely on the upper medium layers of

programmes although this can vary according to territory,market conditions and local jurisdiction.

Casualty treaty reinsurance products:» Excess of loss treaty reinsurance only» Motor third party liability and related own damage» Casualty including Employers’ liability, public and productsliability

Key pointsTypical client profile:Niche motor products.Personal, small andmedium commercialliability businessTerritorial profile:UK and EuropeSyndicate 3000:Lloyd’s Box No. 260, 262MIICL:The Markel Building,49 Leadenhall Street



Specialty: ContingencyOur contingency business supports those looking forprotection in the case of event cancellation and/or thenonappearance of artists. As well as these coverages, we area market leader in adverse weather, prize indemnity and overredemption and can write a wide range of other types of risk,including individual personal accident.

Contingency products:» Cancellation» Contract bonus» Non-appearance» Over redemption» Prize indemnity» Weather related risk» Wedding insurance

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Key pointsTerritorial profile:Worldwide business withan emphasis on EuropeanMusic festivals and NorthAmerican conferencecancellationSyndicate 3000:Lloyd’s Box No. 260, 262MIICL:The Markel Building,49 Leadenhall Street


Specialty: CrimeOur crime account offers protection to financial institutionsand commercial firms from the consequences of theft, fraudor dishonesty of their employees when acting alone or incollusion with a third party. Protection for loss on premises,values in transit, forged cheques, forged securities, counterfeitcurrency and damage to office and contents is also considered.Our flexible approach enables us to extend cover to include

the professional negligence and directors’ and officers’ liabilityof the insured.

Crime products:» Bankers’ blanket bond» Cash in transit» Commercial crime» Computer crime» Directors’ and officers’ liability» Financial institutions professional indemnity» Plastic card protection

Key pointsTypical client profile:SME, Financial Institutionswith asset based belowUS$75bn.Territorial profile:Worldwide but excludingUSA liability business.Syndicate 3000:Lloyd’s Box No. 260, 262MIICL:The Markel Building,49 Leadenhall Street



Specialty: Property openmarketOur property open market team writes direct and facultativebusiness across a diverse portfolio of classes and territories.Property coverage is mainly provided on a excess of lossbasis varying according to type, size and structure.

Property openmarket products:» All risk or single peril on catastrophe exposed business» Multinationals or single location business worldwide» Standard property risks» Risks able to include terrorism» Multiple layer business

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Key pointsTerritorial profile:WorldwideSyndicate 3000:Lloyd’s Box No. 251MIICL:The Markel Building,49 Leadenhall Street


Specialty: Property treaty reinsuranceMarkel International and its predecessor entities have beenwriting property treaty reinsurance for 35 years, offeringclients secure, consistent and long-term coverage solutions.Our service-driven underwriting team provides the followingproducts with a worldwide scope.

Property treaty reinsurance products:» Catastrophe excess of loss» Risk excess of loss» Aggregate excess of loss» Proportional

Key pointsTerritorial profile:WorldwideSyndicate 3000:Lloyd’s Box No. 260, 262MIICL:The Markel Building,49 Leadenhall Street



Trade creditOur trade credit division offers expert knowledge of commercial counterpartyand country risks across a wide variety of trade sectors. The underwritingteam has extensive experience of providing global solutions for clients, butcan also tailor policies for specific credit risks, markets and contingencies.


Trade credit products» Commercial or commercial and political risk trade creditpolicy

» Contract replacement cover – energy industry only» Time/voyage charter» Anticipatory credit» Captive reinsurance» Trade receivables securitisation» Vendor financing» Financial institution/factoring» Pre-credit/work in progress

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Key pointsTypical client profile:Medium to largeenterprises, revenueexcess of £75M, strongcredit managementfunctionTerritorial profile:WorldwideSyndicate 3000:Lloyd’s paperMIICL:The Markel Building, 49Leadenhall Street, LondonEC3A 2EA


SwedenSpainSingaporeElliott Special Risks42

Our International networkComplementing our UK operations, Markel International has offices inSweden, Spain and Singapore. We also have a Canadian subsidiary, ElliottSpecial Risks.These operations allow us to offer our expertise to our clients and business

associates at their place of operation. It also means we can write businesswhich would not normally be brought to London.


Markel International SwedenMarkel International Sweden is the north and east European operation of Markel International.It offers a core portfolio of marine and professional risks, including general liability and productliability, and covers risks for multinational companies, national industries and privateindividuals. Business can be written through either of Markel International’s commercialentities: Markel International Insurance Company Ltd (MIICL) and the company’s wholly-ownedLloyd’s Syndicate 3000.

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Products throughMarkel International Sweden» Cargo» Marine liability» Specie» Hull machinery» Yachts» Building risks» Mortgagees’ interest» War» Piracy loss of hire» Professional indemnity/errors and omission» Directors and officers liability» Employment practise liability» Pension trustee liability» Crime» General liability and products» Liability» Fiduciary liability

Key pointsTerritorial profile:North and east EuropeSyndicate 3000:Lloyd’s paper

Contact usMarkel InternationalSwedenVegagatan 14, 5trSE-113 29 StockholmTel: +46 8 5454 5353www.markelintl.com


Markel International EspañaMarkel International España is the Madrid-based branch office of Markel International. Itwrites business through Markel International Insurance Company Limited (MIICL) and providesa wide range of services to Spanish brokers. The focus is professional indemnity and directors’and officers’ insurance.

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Products throughMarkel International España» Professional indemnity and directors’ and officers’ cover forareas such as:

» Construction – project managers» Engineers Architects OCT (construction quality control)» Miscellaneous - health and safety inspectors» Information technology» Quality control companies» Laboratories undertaking quality control» Advisers» Selective collectives» Financial - brokers» Money transfer» Professional - solicitors and lawyers» Clinics» Nursing homes» Clinical trials

Key pointsTypical client profile:Architects, engineers,insurance brokers andadvisers, accountants,lawyersTerritorial profile:SpainMIICL:The Markel Building,49 Leadenhall Street

Contact usPlaza Pablo Ruiz Picasso,nº1 Planta 35, EdificioTorre Picasso,28020 Madrid

Tel: +34 (91) 788 6150www.markelintl.com


Markel International SingaporeMarkel International Singapore is Markel International’s Asia-Pacific operation. Energy wasone of the first products to be offered regionally, followed by professional indemnity, directors’and officers’ liability, and product liability. The most recent development is property. MarkelInternational Singapore writes business through Markel Syndicate 3000.

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Products throughMarkel International SingaporeEnergy:» Upstream oil and gas» Operational and construction, and related marine andliability risks

Professional and financial risks:» Professional indemnity» Directors’ and officers’ liability» Other specialist liability classes

Products liability:» Coverage for high-hazard goods, particularly exported toNorth America

Property:» Facultative» Treaty

Key pointsTerritorial profile:Asia PacificSyndicate 3000:Lloyd’s paper

Contact usMarkel InternationalSingapore15-01/06,One George StreetSingapore 049145Tel: +65 6388 3000www.markelintl.com


Elliott Special RisksElliott Special Risks (ESR) is a wholly-owned Markel International subsidiary operating acrossCanada. Acquired in October 2009, ESR was founded in 1966 and has become one of Canada’sleading Managing General Agents. ESR has absorbed Mint Canadian Specialty, MarkelInternational’s existing Canadian business, and is developing new business lines by combiningits experience as an MGA with Markel’s underwriting expertise.

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Areas of activity» Canadian liability insurers» Directors and officers’ liability» Environmental impairment liability» Exporters liability» Fitness clubs» Life sciences liability» Media liability» Architects and engineers» Environmental consultants» Information technology» Insurance brokers E&O» Medical malpractice» Miscellaneous E&O» Property and inland marine» Security industry professional programme» Sports and leisure» Umbrella and excess

ContactToronto office130 Adelaide Street West8th Floor, Suite 810TorontoON M5H 3PSTel: +1 (416) 601-1133Montreal office2000 Rue MansfieldSuite 710 MontrealQC H3A 2Z4Tel: +1 (514) 849-4992www.elliottsr.com


Markel InternationalThe Markel Building, 49 Leadenhall Street, London EC3A 2EATel: 020 7953 6000 Fax: 020 7953 6001www.markelintl.com

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