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American Growth into Contractors Insurance in the UK

Markel have acquired ECIC for its UK market position in the specialist construction contractors sector. ECIC’s staff have an extensive working knowledge of Contractors’ Liability insurances ranging from the sole trader up to the large contractor with hundreds of engineers.

Ron Berry, Managing Director of Courtprice Limited an ECIC coverholder since 2011 says “the UK’s insurance markets reliance on French and German Insurers is changing. American Insurers see the UK as a major opportunity for development and growth over the next five years. The acquisition of ECIC by Markel International comes at a time when our own business has been trading successfully with ECIC through delegated powers for a number of years. We are extremely pleased to be able to look forward to development of our own business in partnership with such a financially sound insurer.

Brokers with delegated underwriting authority will continue to provide contractors with not only speedy document services and competitive premiums but extensive professional advice in the sector.

Contractors whose insurances have been placed with EC Insurance Company (ECIC) by specialist brokers now find themselves protected, not only by comprehensive policy cover but also by enhanced financial security of the Insurer following the acquisition of ECIC by Markel International Insurance Company Limited (MIICL), an A rated international
insurance company.

MIICL also owns Abbey Protection Group which provides Legal and Professional Fees insurance cover as well as Legal, Tax and Human Resources Consultancy Services.

Markel Corporation (MIICL’s parent company) has 70 offices in 20 countries employing 15,600 employees.

The UK Insurance markets have always been good at adaptation to change and are the envy of the world for divergence of market facilities. We are again entering a new cycle of gaining access to emerging markets operating in the UK”.

This entry was posted in Blog.
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