Markel Corporation has added a standalone employment practices liability policy customized for professional employer organizations (PEOs) to its management liability suite of products.
The new policy is a modular product providing liability coverage for PEOs and their customers with separate limits available for each. Various coverage enhancements are also available, such as third-party coverage, workplace violence, wage and hour defense, and immigration coverage. PEOs provide back-office solutions for small businesses, including payroll, benefits, HR, insurance, tax administration, and regulatory compliance.
The onboarding process is one of the differentiators of this policy. It consists of an in-person meeting to introduce the policyholder to their claims examiner, review policy features, and deliver an overview of the risk management services offered to PEOs.
The policy is presently available in all 50 states.
Markel Corporation is a financial holding company serving a variety of niche markets. The company’s principal business markets and underwrites specialty insurance products.
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