The move aims to cement Gallagher’s desired position as the ‘broker of choice’ in the infrastructure sector
Broker Gallagher has won a multi-year appointment to act as professional indemnity (PI) broker for public services supplier Amey, following a competitive tender process.
Gallagher’s bid succeeded as the broker demonstrated a clear understanding of Amey’s business and its diverse risk exposures, as well as outlined how it could support Amey in negotiating the PI market.
The firm’s dedicated PI capability within its construction practice was a “deciding factor”, added Gallagher.
Julie Scott, an adviser in Gallagher’s speciality construction practice, said that a specialist broker is essential for navigating the “challenging” PI market within the construction and infrastructure sector.
She explained: “In recent years, the PI insurance market has seen narrowing coverage and increasing costs for placements in the construction and infrastructure sector.
“Effectively managing PI insurance in this challenging market requires the appointment of a specialist broker who understands the impact changes have on premium, risk management, policy coverage and claims and can provide tailored advice and ensure competitive quotations from a range of markets and insurers.
“Gallagher has had a strong presence in the infrastructure sector for some time, but this significant appointment is a further step in establishing us as the broker of choice in this sector and we are very much looking forward to working with Amey over the years to come.”
Amey’s head of insurance Lee Worth added: “We chose Gallagher as the business demonstrated its expertise and robust approach as to how it could support with the challenges that Amey faces in the PI insurance market and it quickly stood out that Gallagher understood the business and the risks we face and what we wanted to achieve. Their innovative and alternative approach was a clear differentiator.”
Amey, one of the UK’s largest infrastructure support service providers, completes a wide range of operations, such as maintaining road and rail infrastructure, keeping schools safe and clean, managing the UK’s defence estate, escorting prisoners and keeping prisons and courts secure, collecting and processing waste and delivering utilities services.
Amey is a subsidiary of global infrastructure and services operator Ferrovial.