In September, Markel will launch a standalone cyber solution for businesses with a turnover of up to £250m, which will be available via the Acturis platform. The SME and mid-market proposition will provide cover across more than 3,400 trade categories.

The new proposition will provide protection across four core areas: liability and legal covers, incident response and crisis management, business interruption and crime and social engineering. Markel says there are also an additional 42 coverages and extensions available.

Mark Lowther, head of technology and cyber, UK at Markel, said: “For many businesses, cyber risk can feel complex and difficult to navigate, even when the need for protection is clear. Our new solution is designed to change that. It gives brokers a strong, practical cyber solution, with competitive cover, valuable support services, a smoother way to trade and learning solutions to help make cyber conversations less challenging.”

Simon De Ferry, chief insurance products officer at Acturis, added: “Cyber risk remains one of the most significant challenges facing UK businesses and brokers need solutions that are straightforward to trade and easy to position with clients.

“Markel’s proposition combines comprehensive cover, practical support services and flexible digital trading, providing brokers with an important solution for SME and mid-market customers.”