SAN FRANCISCO (March 8, 2017) - EPIC Insurance Brokers and Consultants announced that EPIC has been recognized among an elite group of U.S. specialty brokers by Insurance Business America (IBA).
According to IBA, “The foundation of a specialty insurance broker’s work is the thorough knowledge of an industry completely separate from their own. Armed with years of education and experience, insurance specialists know the ins and outs of various industry segments, and as such, are able to guide their clients through every risk and exposure. These specialists are the cream of the crop in their respective areas, giving themselves a competitive edge in the modern insurance world.”
EPIC points to several factors that were critical in establishing their Construction and Design Solutions specialty practice:
- Building a team of top industry specialists, many of who have worked in Construction and Design or in other professions (e.g. law firms) having a specialty focus on Construction and Design
- Focusing on their clients’ needs using a comprehensive, consultative enterprise risk management approach, rather than simply selling insurance and bonds
- Staying relevant and not being complacent, and focusing on news, trends and issues that may impact a client’s growth and success
- Creating innovative programs to support their clients in risk management, safety and loss control, insurance products, specialty services and alternative risk financing strategies
- Building strong, successful, long-term partnerships with underwriters, surety companies and ultimately their clients.
“Construction and Design is a dynamic, innovative and constantly evolving business,” said Brian McDonnell, EPIC’s National Construction and Design Solutions Practice leader. “To effectively serve and support clients in this specialty area, you have to constantly continue building knowledge and expertise, stay alert to future trends and opportunities, and move forward with new, unique and creative solutions - or you simply get left behind.”
According to EPIC, current challenges facing Construction and Design professionals include limited carrier markets for insurance and bonding, particularly for large, complex construction and design companies designing and building mega projects; a shortage of craft labor; environmental issues that delay projects; government regulations and compliance requirements; onerous contracts and legal issues; promoting and maintaining safety in dangerous work environments; new and evolving risks (e.g. cyber, drones, BIM, LEED, Integrated Project Delivery); an aging construction workforce and its impact on insurance costs and safety; and ever-changing statutory and jurisdictional case law and its effect on insurance coverage and contracts.
“We have worked hard and invested significantly in building our Construction and Design Solutions Practice,” said Peter Garvey, president of EPIC. “We are honored and proud to have our commitment to service excellence and status as a trusted and valued client advisor validated by IBA through their recognition of EPIC as a Top Specialist Broker.”
For more information, visit EPIC.