Markel Corp. Hires Leader of D&O Product Line

Sal Pollaro Jr. has been hired by Markel Corp. to develop a new directors and officers product line for the company.

Most recently an executive vice president of the management solutions group with Zurich in New York, Pollaro is now in a newly created position at Markel as its managing director for the D&O line, said company spokeswoman Jen Blackwell. Pollaro will report to Gerry Albanese, Markel's chief underwriting officer, who said in a statement that Pollaro "will lead the development of a public and private directors and officers product offering, which will be an excellent long-term addition to the product mix."

The company currently offers nonprofit D&O coverage, according to BestLink. Blackwell said all Markel insurance subsidiaries will offer the D&O coverage for public and private companies when it is developed. She did not know when the insurance would become available.

The Markel North America Insurance Group is one of the leading writers of surplus lines and specialty admitted business in the United States. Markel ranked sixth among writers of surplus lines business in the United States, as measured by annual direct written premium in 2008. The group markets and underwrites specialty insurance products and programs to a variety of niche markets within the surplus lines and specialty admitted segments, according to BestLink.

Insurance subsidiaries in the Markel Corp. Group, including the Markel North America Insurance Group, currently have a Best's Financial Strength Rating of A (Excellent).

Shares of Markel Corp. (NYSE: MKL) stock opened Dec. 22 at $335.50.

(By Chad Hemenway, associate editor, BestWeek: Chad.Hemenway@ambest.com)