Ferrovial subsidiary Amey, which is one of the largest infrastructure support service providers in the UK, has appointed Gallagher as its professional indemnity (PI) broker following a competitive tender.
Lifting the lid on the move, Amey insurance head Lee Worth explained: “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.”
Financial terms of the multi-year deal were not disclosed.
Meanwhile adviser Julie Scott, of Gallagher’s specialty construction practice, highlighted the narrowing coverage and increasing costs for placements in recent years when it comes to PI insurance in the infrastructure space.
“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,” asserted Scott.
“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 remit includes maintaining the UK’s road and rail infrastructure, managing the country’s defence estate, and keeping prisons and courts secure.
