Gallagher has been named the professional indemnity (PI) insurance broker for construction and development firm Higgins Group PLC.
Founded 60 years ago, Higgins Group is one of the largest family-owned construction companies in South East England. Headquartered in Essex, the firm has two operating companies: Higgins Partnerships, a construction contractor and developer; and Higgins Homes, which designs, builds and manages new build as well as conversion and restoration projects.
Higgins Group said in a release that it transferred management of its professional indemnity insurance to Gallagher in recognition of the broker’s “dedicated PI capability within its construction practice and the clear understanding of the Higgins Group’s businesses and its varied risk exposures.”
“In recent years, the construction PI insurance market has seen narrowing coverage and increasing costs,” said Gallagher specialty construction practice adviser Julie Scott. “Effectively managing PI insurance in this tricky market requires 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.”
“We knew the PI insurance market had become particularly challenging so it was important we could be confident that we had the right partner in place who we felt would go the extra mile for us,” commented Higgins Group group finance director Mark Francis.
Francis added that Gallagher’s team of construction PI specialists “took the time to understand [Higgins Group] as a business, and [its] future plans, to ensure that it could support [the firm] with obtaining the right cover.”
