LONDON, May 7, 2025 /PRNewswire/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced the launch of its Clinical Trials insurance product - underscoring its commitment to providing best-in-class solutions to support clinical trials research and product development on an international scale.
The new clinical trials offering provides comprehensive cover to sponsors, researchers and participants throughout all phases of clinical research and is tailored to meet the regulatory requirements of more than 100 territories, ensuring smooth and compliant trial operations, worldwide.
As part of its service offering, Markel can offer same-day turnaround for quotations, as well as the issuance of certificates and policy documents through its automated document production platform, so that clinical trial sponsors and researchers can get the required insurance in place to begin clinical trials in a timely manner and meet regulatory deadlines. Markel utilises its Lloyd's licenses and extensive global network to provide these solutions to ensure a compliant solution where required.
"Clinical trials insurance is a regulatory requirement in many countries and it's often the last hurdle to get approval to begin clinical research," says Robert Hannaford, Senior Underwriter - Life Science, Markel. "Delays to this process can result in sizeable costs, reputational damage and suspend vital research from going ahead for sponsors and researchers.
"At Markel, we understand the time-sensitive nature of these requests and have developed a compliant solution - backed by our expert underwriting and award-winning claims service, making sure clients are fully protected to carry out the clinical research of products worldwide."
Hannaford continues: "We do not want insurance to be a delaying factor to allowing important clinical research to begin, which is why we've produced a customer-centric product that streamlines all parts of the insurance value chain to prioritise service.
"We look forward to supporting innovation in the life science industry by continuing to deliver effective risk transfer solutions for future lifesaving treatments through open communication, dialogue and transparency with our brokers, insureds and trading partners."
About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people - and the deep, valued relationships they develop with colleagues, brokers and clients - that differentiates us worldwide.
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