Markel, the insurance operations within Markel Group, announced a reorganization of its US professional liability products into four categories – management liability, errors and omissions (E&O), cyber and financial institutions.

The change takes effect immediately, the company said.

As part of this restructuring, Markel will shift its access point for Public Directors & Officers (D&O) and large financial institutions coverage to its Bermuda Professional Liability platform, led by Sandra Soares.

The Bermuda platform is positioned as Markel’s center of excellence for underwriting Public D&O and large financial institutions coverage. The move follows an earlier decision in September 2024 to transition the company’s London Risk Managed Professional Liability portfolio to the same Bermuda platform.

Alex Martin, president of Markel Specialty, said the decision was made after evaluating how to improve underwriting efficiency and consistency.

"After careful consideration and evaluation, we believe this streamlined underwriting approach will lead to improved consistency for our customers and trading partners,” Martin said. “It will also make it easier for them to do business with us.”

"This move further takes greater advantage of our strong Bermuda capabilities, leveraging our underwriting expertise, gaining economies of scale, and reinforcing our overall strong commitment to professional liability. This more focused and streamlined underwriting approach will also lead to greater consistency and improved financial outcomes for the business,” he added.

Markel’s US Professional Liability platform will continue under the leadership of Sal Pollaro. Segment leadership includes Craig Graff for management liability, Paul Melone for E&O, Travis Pearson for financial institutions, and Lou Botticelli for cyber.

In October, the company reported total operating income of $1.37 billion in the third quarter, up from $72.81 million a year ago.