CONSHOHOCKEN, PA — NSM Insurance Group has announced its acquisition of GIG Insurance Group (GIG), a leading MGA in the community association management liability and lawyers’ professional liability markets. This deal also includes the acquisition of Gifford Wells Insurance (GWI), an independent broker specializing in professional liability insurance for lawyers, CPAs, doctors, and engineers.
“We are thrilled to announce our latest strategic acquisitions in the D&O, crime and professional liability space,” said Bill McKernan, President of NSM Insurance Group. “Dave Villari and Eric Gifford have built a tremendous business positioning GIG as the clear leader in the D&O and crime insurance market for community associations. Additionally, they have built a premier agency in GWI with a stellar reputation for delivering unmatched expertise to their clients.”
GIG, established in 2006, offers directors and officers (D&O) liability insurance and crime insurance through a cutting-edge technology platform, allowing agents and brokers to quote, bind, and issue policies efficiently. The number of community associations in the U.S. has grown significantly from 2000 to 2023, driving up demand for D&O and crime insurance due to regulatory requirements and litigation trends.
In 2015, GIG Professional Programs was created to provide professional liability and risk management services to lawyers in Florida. GWI, founded in 2003, offers professional liability insurance solutions, including specialties like medical malpractice and CPA professional liability.
“I have the utmost respect for Bill McKernan and the NSM leadership team and we are truly excited to join forces to take our business to the next level of success,” said Dave Villari, President of GIG Insurance Group. “Over the past 18+ years, we have established GIG and GWI as go-to solutions in the liability marketplace based on our competitive coverages and ease of agents doing business with us.”
Eric Gifford, who will become President of GIG and GWI, added, “For the past two decades, our mission has been simple — to deliver unparalleled liability insurance solutions and top-notch service to our valued agents partners and clients. NSM is well respected in the industry as the leader in specialty, niche insurance on both the program and retail side — and we’re truly excited to combine our expertise to grow our business and expand our footprint.”
This acquisition aims to strengthen NSM’s position in the niche insurance markets and provide enhanced services to their clients.
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