London, October 8th / PRNewswire / -- Markel Group Inc. ( NYSE : MKL )'s insurance business, Markel Insurance, announces the launch of a property insurance product for the chemical and oil and gas industries ( Chemical, Oil & Gas related Energy Property, abbreviated as CORE), and appoints Candice Walker as the person in charge of First - Party Energy, with Michael McClain serving as the senior underwriter for energy.
This launch will strengthen the solutions provided by Markel for the first-party energy business in the United States, offering specialized property insurance solutions to small and medium-sized enterprises across the country. These solutions cover a wide range of energy industries, including chemical processing, oil and gas, as well as industrial organic chemicals, petrochemicals, natural gas transportation and storage, end-use applications, gas processing, and midstream and downstream operations.
This new product is designed for various onshore energy and energy-related engineering risks, providing customized coverage for property damage, business interruptions, and equipment failures under certain risk scenarios. Customers can also benefit from protection against natural disaster risks, including floods, storms, and earthquakes; in addition to the main insurance coverage and excess loss protection, the maximum insured amount can reach up to 50 million US dollars.
Walker will be responsible for driving the development of this new product and will work closely with Markel International's existing midstream and downstream underwriting teams to provide specialized solutions for domestic risks in the United States. Her team will evaluate, price, and underwrite a wide range of business types, from smaller-scale operations to complex onshore businesses in the U.S., while maintaining strict underwriting discipline and service standards.
Walker has over 20 years of experience in the field of property insurance and joined Markel in 2015. She initially joined the company's Environmental and Liability team in the United States as a Senior Underwriter, was later promoted to Director of Property and Marine Insurance, and then to Senior Director of First-Party Business for the Western Region. During this time, she collaborated with product leaders and underwriting teams to develop customized insurance solutions for clients across the United States and implemented technical underwriting strategies.
Walker Indicates that "energy companies are facing a complex risk environment, affected by an increase in natural disasters, operational disruptions, and a challenging economic environment. Our new products provide tailored solutions for local brokers and customers in the United States, designed around their constantly changing risk exposures, while also enabling customers to more conveniently obtain Markel professional underwriting, claims settlement, and engineering support through a long-term and committed partner."
Residing permanently in Texas, he will report to Walker in the role of Senior Energy Underwriter. In his new position, he will support the continuous development and evolution of CORE products. McClain will also guide the direction of the midstream and downstream US business portfolio for Markel, helping to strengthen the broker-customer relationships within the First - Party Energy business portfolio.
McClain has recently served as the Technical Operations Manager for Tomorrow RNG, the gas group under Enbridge Inc. He leads the technical operations team and collaborates with senior leadership to establish and implement company standards and processes. Prior to this, he held several senior positions at privately owned natural gas producers and midstream groups Aethon Energy and LLC, involving facilities, construction, and production. In these roles, he executed oil and gas infrastructure projects worth millions of dollars and was responsible for the asset planning and development of Aethon's largest site in East Texas.
Regarding the appointment of McClain, Walker stated: "We are very pleased to welcome Michael to join our team at America's leading energy company. He possesses an outstanding engineering background, operational experience, and a proven track record in managing energy infrastructure projects worth millions of dollars, which will bring valuable technical insights to our underwriting work."
She added, "I look forward to working closely with Michael so that we can continue to provide unparalleled services to brokers, clients, and trading partners, while also preparing for long-term, profitable growth."
About Markel Insurance
We are Markel Insurance, a leading global professional insurance company that upholds a truly people-oriented philosophy. As an insurance business under Markel Group Inc. ( NYSE : MKL ), we utilize our extensive capabilities and expertise to create intelligent solutions for the most complex professional insurance needs. However, what truly sets us apart globally is our employees and the deep and valuable relationships they build with their colleagues, brokers, and clients.
