Reflecting the efficiencies of web based transactions, policies will normally be issued within three days and brokers dealing on line will benefit from an additional 2.5% commission.

A range of new property products has also been added to the website.

Furthermore, when brokers arrange more than one type of insurance, documentation will be issued as a single combined policy wherever possible.

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.

Steve Carroll, Managing Director of Markel UK, commented: “ We are committed to providing our brokers with excellent service and to helping them to better develop their businesses. Binding through the MarkelUKonline website will make arranging cover a much easier, more rapid process. It will reduce broker’s administrative burdens and ease the task for them of offering a wider range of insurance products to their customers.“