Markel Canada announces new launch

Markel Canada announces new launch | Insurance Business Canada

Insurance News

Markel Canada announces new launch

It is meant to support businesses and individuals within sports

Insurance News

By
Paul Lucas

Markel Canada will be hoping it’s straight out of the blocks with its latest offering aimed at businesses and individuals involved in the sports field.

The subsidiary of the London-based insurer Markel International has introduced Markel Play, which it states builds on its “decades” of expertise and specifically targets those within the fitness, sports and recreational sectors.

Brenda McClung, assistant vice president at Markel Play, noted that the company had listened to brokers with the introduction of the product – and that the enhancements it is introducing reflect that feedback.

What can we expect from Markel Play?

The goal of Markel Play is to present an all-encompassing offering for both recreational and sport organizations, as well as participants. This means that it offers a suite of protection, including: instructor’s errors and omissions, abuse liability, property, business interruption, general liability and participant accident insurance.

In addition, the specialty insurer has announced a collaboration with both the Canadian Centre for Ethics in Sport and Sport Law. According to its literature, the partnerships have given it enhanced knowledge about the risks and challenges facing both amateur athletes and organizations, and mean the introduction of an additional support offering – this includes access to the Sport Law Safe Sport Policy Suite, Safe Sport policy implementation, waiver review with recommendations, 10 spaces within an online course brought to participants by the Canadian Centre for Ethics in Sport, and as much as two hours of bespoke risk management assistance.

“We are so fortunate to work alongside the best in the business through the partnerships we have built and look forward to continuing to lead and innovate within the sports space alongside them,” added McClung.

How Markel is looking to grow in the sports arena

Markel has set its sights on further growth within the sports segment, thanks to its acquisition of Allsport Insurance Marketing Ltd, which was completed in 2017. The firm described that deal as “uplevelling” its talent and approach.

“The official launch of Markel Play is marked by our market leading insurance product that has been specifically tailored to support business and players of sport,” added McClung. “However, it is truly made complete by turn-key services offerings through exclusive partnerships that result in guided council and support to ensure that proper protocols are in place to facilitate a safe experience for all involved.”

Any thoughts on the Markel Play offering? Leave a comment below.