A highly complex organisation, the University includes six schools and over 150 faculties, departments and other institutions covering a vast array of subjects and specialised areas of research. As well as being a leading academic centre, the university houses a large number of museums and historical collections. Founded in 1209, it is the fourth-oldest university in the world, and currently has nearly 20,000 students from 150 countries.
The appointment was negotiated by Gallagher’s specialist public sector and education practice within its UK Retail operations and will see the firm look after all of the university’s risk management and insurance needs. The university appointed Gallagher as a result of its technical knowledge and understanding of the higher education sector and the current challenges universities are facing.
Gallagher is one of the largest brokers in the education sector and additionally employs specialist technical teams, so it is able to offer holistic advice for the different aspects of insurance and risk management that universities may require. For example, some universities, like Cambridge, specialise in medical research, or may need cover for historical objects and fine art, so their requirements can often require technical knowledge of different insurance classes. As one of the world’s largest global brokers, Gallagher is well placed to assist universities that are looking to place all their insurance requirements under one roof.
Commenting on the appointment, Tim Devine, Managing Director of Gallagher’s public sector & education practice, said: “We are delighted to be working with the University of Cambridge. It is a hugely prestigious and historical centre for excellence in the educational world. Each and every university is different so it’s important that our team can offer the specialist knowledge to develop tailored insurance cover that covers all their needs.”
Nicky Routh, Head of Group Insurance Services for the University of Cambridge, said: “After a highly competitive procurement process, we are delighted with the appointment of Gallagher. The University of Cambridge, as one of the world's oldest universities and its world-wide reputation for world changing research and outstanding academic achievement, required an exceptional global broker. We were impressed by its established credentials and expertise in the higher education sector, and its understanding of the University's rich history, mission and core values and we are looking forward to building a long-term partnership.”