Latest news with #DaisyGalvin
Yahoo
28-05-2025
- Business
- Yahoo
Markel rolls out FI solutions in Australia
Markel Insurance, the insurance operations arm of Markel Group, has launched financial institutions (FI) solutions in Australia, with 'localised wordings' to serve organisations in the sector. The launch follows the company's introduction of commercial professional indemnity solutions in 2024, as part of its strategy to offer specialty insurance products in the Australian market. The company has made available a primary investment managers insurance policy for Australian clients, with plans to unveil three additional primary wordings in July 2025. These will cover directors and officers, professional indemnity and crime for financial institutions. The FI solutions are aimed at serving a variety of entities in the financial sector, including both private and listed institutions. The target market encompasses banks, credit unions, fintech companies, investment firms, mutual funds, non-bank lenders, private equity funds, real estate investment trusts, superannuation funds and venture capital funds. Professional and financial risks senior underwriter Lan Pham will lead the new FI solutions team from Melbourne. Senior underwriter Daisy Galvin has relocated to Sydney from Markel's London office to join the Australian team. With the establishment of specialist underwriters and claims handlers in Australia, Markel aims to provide local underwriting and claims services in the region. Markel Australia managing director Rory Morison said: "The launch of these localised FI solutions follows last year's focus on Commercial Professional Indemnity and marks the next part of our journey since entering the Australian market in 2023. "We see a genuine need for more locally empowered underwriters in Australia, and we are excited to have Daisy join us from our London office to bolster our expertise in the FI space. We are very excited to bring these products to market, which combine the best of what Markel offers globally with our local IP [intellectual property] and expertise." Earlier in the month, Markel introduced a specialist cyber insurance product covering indirect losses from acts of war. "Markel rolls out FI solutions in Australia " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
27-05-2025
- Business
- Cision Canada
Markel launches solutions for Financial Institutions in Australia
MELBOURNE, Australia, May 27, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE: MKL), today announced it has launched Financial Institutions (FI) solutions in Australia, with localised wordings to service a broad range of organisations in the sector. This announcement follows the launch of localised Commercial Professional Indemnity solutions in 2024, under Markel's plan to progressively launch targeted and tailored specialty insurance products in the Australian market. Markel now has a primary Investment Managers Insurance policy available to Australian customers, with three additional primary wordings to be released in July 2025: Financial Institutions – Directors and Officers Financial Institutions – Professional Indemnity Financial Institutions – Crime These solutions are designed for private and listed local FIs, including private equity funds, mutual funds, venture capital funds, non-bank commercial and consumer lenders, credit unions, real estate investment trusts (REITs), superannuation funds, banks, investment companies, FinTech companies, and more. Leading the new FI solutions team will be Senior Underwriter in Professional and Financial Risks, Lan Pham, based in Melbourne, and Senior Underwriter Daisy Galvin, who has transferred to Sydney from Markel's London office. With specialist underwriters and dedicated claims handlers now onshore, Markel can provide local underwriting expertise, breadth of cover and professional claims service in Australia. Kym Beazleigh, Head of Professional and Financial Risks Australia at Markel, said, "We have seen growing demand across Australia for financial lines, particularly for financial institutions. This has been driven in part by the growth of the digital economy alongside traditional industries, increased scrutiny on director liability, and a spate of high-profile cyber breaches. "By nature, financial organisations face many threats in a highly regulated and complex industry. Financial institutions must protect their assets from risks such as climate and ESG disclosure, cybersecurity threats, and regulatory or legislative changes. If they're inadequately managed, they can cause significant damage to an institution and their clients' financial portfolios. We understand these risks and provide dynamic insurance solutions to fulfil the unique needs of the financial sector." Rory Morison, Managing Director of Australia at Markel, said, "The launch of these localised FI solutions follows last year's focus on Commercial Professional Indemnity and marks the next part of our journey since entering the Australian market in 2023. "We see a genuine need for more locally empowered underwriters in Australia, and we're excited to have Daisy join us from our London office to bolster our expertise in the FI space. We're very excited to bring these products to market, which combine the best of what Markel offers globally with our local IP and expertise." 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.
