Markel Group (MKL) has launched a new insurance offering, Chemical, Oil & Gas related Energy Property, for small to midsize US businesses across a range of energy sectors, the company said Thursday.

The offering provides coverage for property damage, business interruption and, for selected risks, equipment breakdown, the specialty insurer said in a statement.

Clients will be able to secure up to $50 million in coverage for natural catastrophe exposures, on both a primary and excess-of-loss basis, it added.

The company has appointed Candice Walker, who has over 20 years of experience in property insurance, as Head of First-Party Energy to lead the development of the new offering.