Markel has announced that it has added a standalone employment practices liability policy – designed specifically for professional employer organizations (PEOs) – to its range of management liability products.
The new policy is a modular solution that offers liability coverage for PEOs and their customers, with separate limits available for each. There are also various coverage enhancements available, including third-party coverage, workplace violence, wage and hour defense, and immigration coverage.
A release said that the onboarding process is one of the more unique aspects of this policy. It involves an in-person meeting to introduce the policyholder to their claims examiner. They will then review policy features and deliver an overview of risk management services for PEOs.
At present, the policy is available in all 50 states.
“The management liability space is growing more complex and creating a policy specifically for PEOs is a need we heard directly from our customers and production partners,” commented Markel managing director of management liability Salvatore Pollaro.
Pollaro also mentioned that, through the new policy, it is hoped that both PEOs and their client customers are better served by customer coverages, risk management services, and Markel’s support.