Markel Corporation introduced a new insurance product, Outbreak Extra Expense Coverage, specifically designed to protect companies from a closure of their business premises due to a variety of contagions including Avian Flu.
Demand for business interruption cover has soared due to the recent cases of Avian Flu and increasing reports of business closure caused by ecoli, salmonella or legionnaires reported in the United States and worldwide media. Markel’s U.S. subsidiaries will target their existing small-to-medium-sized companies within, but not limited to, the food service industry, medical industry, educational institutions, and property owners/managers.
Jeff Lamb, director of Business Development of the Markel Corporation commented: “Business Contingency Plans are at the forefront of corporate initiatives due to storms, terrorism and the threat of a pandemic. These types of events are almost 100 percent out of a company’s control. However, it can control its preparedness for an unfortunate event due to a closure from a contagion. Outbreak Extra Expense Coverage couples an insurance policy, to cushion the economic impact due to a closure from a public health official of a business premises, with risk management tools to give a business, its employees and clients peace of mind.”
The Outbreak Extra Expense Coverage is available through all Markel U.S. subsidiaries via their normal distribution channels.
Source: Markel Corporation
Topics USA New Markets
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