Markel UK has developed its online quotations system to enable brokers to bind professional, management and specialty risks online.
Markel said policies would be issued within three days, and brokers dealing online will benefit from an additional 2.5% commission.
Those brokers who arrange more than one type of insurance online will receive documentation as a single combined policy wherever possible, Markel added.
The binding facility simplifies the placement of cover for small business and offers brokers more scope for supporting new business initiatives and for cross-selling different types of insurance product.
Covers bound online are subject to a simple ‘Statement of Fact', and all policies use standard Markel UK wordings.