Markel Launched Energy Property Insurance Offering
Small to midsize energy firms can now access property coverage with limits reaching $50 million.
Updated on Oct. 12, 2026 in Oil and Gas
Live Poll
Do you trust that insurance companies prioritize your business needs during complex economic and environmental changes?
Markel Insurance has introduced a new property offering designed specifically for small to midsize US-domiciled businesses within the chemical, oil, gas, and energy sectors. The product includes coverage for property damage, business interruption, and equipment breakdown.
Why it matters
The new coverage aims to protect operators against increasing natural catastrophe risks and operational disruptions that have created a challenging economic environment for the energy industry.
The new CORE product offers up to $50 million in coverage on a primary and excess-of-loss basis for small to midsize energy firms. This launch follows Candice Walker's 20 years of experience in the property insurance sector.
The players
Markel Insurance
A specialty insurance provider that underwrites property and casualty coverage for commercial entities.
Candice Walker
The current Head of First-Party Energy at Markel who has 20 years of property insurance experience.
Michael McClain
A Senior Underwriter for Energy at Markel based in Texas who reports to Candice Walker.
The details
The product protects against natural catastrophes including windstorm, earthquake, and flood events. Underwriters manage risks by coordinating with Markel International's existing Midstream and Downstream teams. Michael McClain, based in Texas, reports to Candice Walker to drive the development of these offerings.
Timeline
October 12, 2026: Markel announced the new product launch and management appointments.
2015: Candice Walker joined Markel.
Market Landscape
This move follows the established industry trend of insurers creating specific, dedicated underwriting units to address the distinct volatility profile of the energy sector. It positions the firm to capture long-term growth by providing targeted coverage for niche operational risks.
Operators in the chemical, oil, and gas sectors should evaluate whether their current property policies adequately cover natural catastrophe risks and business interruption. Consult with your insurance broker or counsel to determine if these new coverage limits meet your specific risk management needs.
The takeaway
Energy businesses face rising exposure to natural disasters that standard property policies may not fully address. Conduct a thorough review of your current business interruption and equipment breakdown limits to identify potential coverage gaps.
Further reading
For more on industry risk and sector-specific financial tools, review our Oil and Gas section.
Source note: This article includes information reported by ReinsuranceNe.
Live Poll
Do you trust that insurance companies prioritize your business needs during complex economic and environmental changes?
