Markel Expands US Energy Insurance with $50M CORE Offering

Event summary

Markel launched Chemical, Oil & Gas related Energy Property (CORE) offering for small to midsize US energy businesses on October 8, 2026.
New product provides up to $50M in coverage for property damage, business interruption, and equipment breakdown.
Candice Walker appointed Head of First-Party Energy and Michael McClain as Senior Underwriter – Energy.
Walker brings 20+ years of property insurance experience; McClain has engineering background in energy infrastructure.

The big picture

Markel's CORE offering targets a growing need for specialized insurance in the energy sector, particularly as small to midsize businesses face increasing risks from natural catastrophes and operational disruptions. The strategic move positions Markel to compete more aggressively in the US energy insurance market, leveraging its underwriting expertise and engineering capabilities. The appointment of experienced leaders in Walker and McClain suggests a focus on long-term growth and risk management.

What we're watching

Market Penetration: How quickly Markel can capture market share among small to midsize US energy businesses.
Underwriting Discipline: Whether Markel can maintain strong underwriting standards while expanding into complex energy risks.
Natural Catastrophe Exposure: The impact of increasing natural catastrophe events on the profitability of the CORE offering.