Markel has unveiled a stand-alone employment practices liability policy, tailored for professional employer organisations (PEOs).
The new modular offering has been launched in all 50 states in the US.
PEOs offers a range of back-office solutions. Some of these are payroll, benefits, HR, insurance, tax administration, as well as regulatory compliance.
With the new offering, both PEOs and their customers can get liability coverage. Each of them have separate limits.
Coverage enhancements include third-party coverage, workplace violence, wage and hour defense, as well as immigration coverage.
The onboarding process includes an in-person meeting.
Through the meeting, policyholders are introduced to their claims examiner and policy features are reviewed.
Markel managing director of management liability Salvatore Pollaro said: “The management liability space is growing more complex and creating a policy specifically for PEOs is a need we heard directly from our customers and production partners.
“Our hope is that both the PEOs and their client customers are better served with the custom coverages, risk management services, and one-on-one support they get from Markel.”
Markel was recently in the news for its alliance with Elon Musk-led automotive and energy firm Tesla in order to launch a motor insurance product.
The partnership was conducted through Markel subsidiary State National Insurance Company.