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Markel launches Chemical, Oil & Gas-related Energy Property offering

The CORE offering includes property damage and business interruption coverage, with limits up to $50 million on a primary and excess-of-loss basis.

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Markel Insurance, the insurance operation within Markel Group Inc., has launched a Chemical, Oil and Gas-related Energy Property (CORE) offering, alongside the appointment of Candice Walker as Head of First-Party Energy and Michael McClain as Senior Underwriter for Energy, according to Reinsurance News.

The new CORE product is designed for small to midsize US-domiciled businesses in the chemical, oil, gas, and broader energy sectors, including petrochemicals, natural gas transmission and storage, terminals, gas processing, and midstream and downstream operations.

Markel said the offering is tailored for onshore energy and energy-adjacent engineered risks, with coverage for property damage and business interruption, and equipment breakdown on selected risks.

The insurer also said CORE protects against natural catastrophes such as flood, windstorm, and earthquake, with limits up to $50 million on both a primary and excess-of-loss basis.

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