Tim Devine, Regional Managing Director, Public Sector, Education, Communities and Housing, at Gallagher opened the event. Tim introduced the nine sessions of the Horizon conference, which covered the following topics — construction, cyber risk, fraud and financial crime, renewable energy, safeguarding, change management and organisational wellbeing, communications and risk management. He also introduced Dorothy Gjerdrum, Senior Managing Director, Public Sector & K-12 Education from the US, as the keynote speaker, with more than 35 years' experience in improving the risk profiles of public entities.
The morning sessions began with a focus on construction, where Tracy Keep, Managing Director of the Construction Practice Group at Gallagher, delved into the complexities of contractor-combined policies. She explained how the coverage works, including maintenance periods, contract limits, and coverage for hired and owned plant and employees' tools.
Tracy provided insights into standard form contracts such as Joint Contracts Tribunal (JCT) and New Engineering Contract (NEC), highlighting how amendments can alter responsibilities and potentially leave parties underinsured. She stressed that under an NEC contract, the client may provide certain plant and materials, as well as specific insurances, which could impact overall coverage. Tracy discussed the reasons for choosing different JCT contract options and addressed challenges such as insuring existing buildings separately from new works. Tracy advised involving insurance brokers early in the planning stage to ensure comprehensive coverage and budget alignment, concluding with a discussion on public product liability and the implications of the Building Safety Act.
"Contract alterations can present opportunities to better define responsibilities, but it is important to ensure that your coverage evolves along with these changes. Embrace the adjustments but always understand how they align with your insurance to ensure you are fully protected."
-Tracy Keep, Managing Director, Construction Practice Group, Gallagher
The focus then moved to cyber risk, where Kye Brown, Head of Business Development, and Mark Bird, Head of Incident Response, both from Coalition, an active insurance provider, presented on cyber incident response. They highlighted Coalition's comprehensive approach to protecting businesses from cyber risks, emphasising the dynamic and evolving nature of these threats.
Mark Bird elaborated on common cyber incidents like ransomware and email compromise, while Kye introduced Coalition's Active Insurance, which combines risk assessment, protection, incident response and insurance coverage, providing an integrated approach for continuous safeguarding against cyber risks. The session emphasised the growing necessity for businesses to have an active partner in cyber defence.
"Cybercrime costs the global economy over $8 trillion annually1."
-Kye Brown, Head of Business Development, Coalition
In the next session, Arun Chauhan, Specialist Fraud Solicitor and Director of Tenet, a specialist law firm, addressed the pervasive issue of fraud and financial crime in the public sector. He highlighted the indiscriminate nature of fraud and the particular vulnerabilities within the public sector's complex ecosystem. Arun explored the causes and perceptions of fraud, emphasising the importance of ethics over compliance. He also advocated for strong fraud controls and the fostering of a culture prioritising integrity.
"Financial trends indicate substantial losses due to fraud, with the public sector losing over £50 billion annually2."
-Arun Chauhan, Specialist Fraud Solicitor and Director of Tenet
The renewable energy session presented by Carl Gurney, Director of the Renewable Energy Practice at Gallagher, laid out very clearly the current landscape and future potential of renewable energy deployment. He stressed the urgent need to achieve net-zero emissions by 2050 and discussed the UK Government's strategy for clean power. Carl highlighted the importance of early engagement with insurers to manage risks and ensure project viability, highlighting the need for partnership with experienced brokers.
"To successfully transition to renewable energy, businesses must address risks such as supply chain delays and workforce shortages early on, ensuring they engage with insurers and brokers from the design phase to maximise efficiency and minimise costs."
-Carl Gurney, Director of Renewable Energy Practice, Gallagher
The morning sessions concluded with a presentation by Marie Williams, CEO of TheSafeguardingCop, a specialist safeguarding consulting agency, who focused on organisational responsibilities and the implementation of best practices for safeguarding individuals in the public sector. She also discussed the requirements for public sector bodies and statutory agencies, describing how to approach and handle a crisis.
The afternoon sessions focused on change management and organisational wellbeing. Steve Bent of Culture Change Consulting at Gallagher delivered an inspiring and interactive discussion on leading change from cultural and leadership perspectives. The 'Wellbeing at Your Organisation' session led by Andreas Hunter, Head of Wellbeing at Gallagher, explained how adapting to change, overcoming challenges and confidently facing the future become more achievable when an organisation actively supports the wellbeing of its people.
The Horizon conference concluded with an impactful keynote speech by Dorothy M. Gjerdrum, focusing on 'Navigating the Changing Risk Landscape. Dorothy covered a comprehensive agenda, including the risk management process, global risks and the evolution of risk management in the US. She highlighted the interconnectedness of international risks and identified ten emerging risks for the US public sector. Additionally, she stressed the importance of developing future risk management skills, encouraging risk managers to balance technical and people skills, embrace uncertainty, and change and maintain resilience amid evolving risks.
If you would like to learn more about any of the Horizon conference sessions, they are all available to watch on demand. Contact your local Gallagher representative to discuss any issues raised in more detail.
