Markel's New Professional Indemnity Insurance Solutions for Australian Professionals
Comprehensive Coverage Across Six Key Sectors
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
In April 2024, Markel, a US-based specialty insurer, unveiled a suite of professional indemnity (PI) insurance products specifically designed for the Australian market.
These offerings cater to professionals in accounting, construction, design and construct, insurance, media, and miscellaneous sectors.
Over the past five years, the Australian PI insurance landscape has experienced significant shifts, including pricing adjustments and coverage modifications. These changes have particularly impacted industries such as construction, engineering, energy, and professional services. In response to these evolving market dynamics, Markel aims to build a diversified and sustainable portfolio that addresses the unique needs of various professions.
For Australian professionals, this development presents an opportunity to access PI insurance solutions that are not only tailored to their specific industry requirements but also backed by Markel's global expertise. Engaging with an independent insurance broker can assist in navigating these new offerings to ensure optimal coverage.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
In a landmark decision on April 28, 2026, the Federal Court dismissed Allianz Australia's bid to impose a cap on sexual misconduct coverage under the Uniting Church's professional indemnity policy. This ruling underscores the judiciary's stance on upholding policy terms as executed, rather than as later interpreted by insurers. - read more
Markel, a prominent US-based specialty insurer, has announced the launch of professional indemnity (PI) insurance products specifically designed for the Australian market. This strategic move comes in response to a notable reduction in PI insurance capacity over recent years, leaving many professionals seeking reliable coverage options. - read more
The Australian financial services sector is currently witnessing a significant increase in professional indemnity (PI) insurance claims. This trend is largely attributed to intensified regulatory scrutiny and recent legal actions initiated by the Australian Securities and Investments Commission (ASIC). - read more
Arch Insurance Australia has announced the promotion of Aisling Hegarty to the position of Head of Professional Indemnity (PI), effective immediately. This strategic move underscores Arch's dedication to bolstering its PI insurance offerings across the Australian market. - read more
The Insurance Council of Australia (ICA) has called for structural reforms to the Compensation Scheme of Last Resort (CSLR) to address growing funding pressures and enhance consumer protection. This appeal comes in response to a Treasury consultation paper examining the role of professional indemnity insurance in compensation claims. - read more
No comments yet. Be the first to share your thoughts.