Markel Launches Insurtechrisk+ Product For Insurtech Businesses

LONDON, June 11, 2025 /PRNewswire/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced the launch of its InsurtechRisk+ product for insurtech businesses.

The InsurtechRisk+ package contains four insuring clauses – insurance services and technology liability, directors and officers (D&O) liability, crime, and cyber liability and loss cover, which offer protection for UK, Europe, Australia, Asia and Canada domiciled businesses with limits up to GBP £10 million.

Akin to the organisation's existing FintechRisk+ product, insureds taking out InsurtechRisk+ will have access to various value-add services, including: 24/7 business, legal and employment advice; R&D tax advisory; debt recovery support; grant and funding assistance; contract reviews and a cyber risk toolkit, which are free to use anytime during the policy.

The four insuring clauses, combined with these value-add risk management services, will help insurtech businesses navigate the complex landscape of cyber threats, crime and financial liabilities. Markel's offering avoids the risk of having gaps in cover through having different policies with multiple insurers, providing a cost-effective, 'one-stop-shop' solution for clients so that they can concentrate on growing their businesses.

Nick Rugg, Head of Fintech and Investment Management Insurance at Markel, commented: "The cyber risk landscape has evolved since we launched our first Insurtech policy, with the emergence of more advanced attacks from threat actors utilising AI tools/technology to infiltrate company networks, impersonate senior personnel and steal confidential data and funds."

He expands: "Our newly created InsurtechRisk+ policy provides superior cover, reflecting the many cyber exposures that insurtech companies face today and our continued dedication to providing bespoke risk management and transfer solutions for our insurtech/fintech insureds, backed by an award-winning claims team.

"Another key goal in launching InsurtechRisk+ is to offer best-in-class cover alongside risk management solutions that go beyond typical post-loss assistance for policyholders. We want to disrupt traditional insurance products as well as how customers view the role of the insurer as only helping clients after an incident has taken place."

Rugg concludes: "I'm looking forward to rolling out this cover for our insurtech businesses, together with the value-add services that have been tailored with their needs in mind."

About Markel Insurance

We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/markel-launches-insurtechrisk-product-for-insurtech-businesses-302478049.html

SOURCE Markel

Frequently Asked Questions

What is InsurtechRisk+?

InsurtechRisk+ is an insurance product designed for insurtech businesses, offering coverage for insurance services and technology liability, directors and officers liability, crime, and cyber liability.

What value-add services are included?

The policy includes 24/7 business, legal, and employment advice; R&D tax advisory; debt recovery support; grant and funding assistance; contract reviews; and a cyber risk toolkit.

Why is this policy important?

It provides a cost-effective, 'one-stop-shop' solution for insurtech businesses, protecting them from cyber threats, crime, and financial liabilities, allowing them to focus on growth.

First published on Thu, Jun 12, 2025

Enjoyed what you've read so far? Great news - there's more to explore!

Stay up to date with the latest news, a vast collection of tech articles including introductory guides, product reviews, trends and more, thought-provoking interviews, hottest AI blogs and entertaining tech memes.

Plus, get access to branded insights such as informative white papers, intriguing case studies, in-depth reports, enlightening videos and exciting events and webinars from industry-leading global brands.

Dive into TechDogs' treasure trove today and Know Your World of technology!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. While we aim to provide valuable and helpful information, some content on TechDogs' site may not have been thoroughly reviewed for every detail or aspect. We encourage users to verify any information independently where necessary.

Tags:

Insurtech Insurance Cyber Security Risk Management Fintech D&O Crime Cyber Liability

Join The Discussion

- Promoted By TechDogs -

IT Security