NSM Insurance Group, a global specialty insurance provider with more than $1.8B in premium across 25+ niche insurance programs, announced it has acquired GIG Insurance Group (GIG). Based in Fort Lauderdale, FL, GIG is one of the leading MGAs in the community association management liability and lawyers’ professional liability markets. As part of the transaction, NSM also acquired Gifford Wells Insurance (GWI) — an independent insurance broker specializing in professional liability insurance primarily for lawyers, CPAs, doctors and architects 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. We look forward to partnering with Eric as the next president of GIG and GWI to grow these businesses, especially through cross-sell opportunities with NSM’s existing niche insurance programs.”
Established in 2006, GIG offers director and officers (D&O) liability insurance and crime insurance coverages through a cutting-edge technology platform, which allows agents and brokers to quote, bind and issue policies. The number of community associations in the U.S. has experienced significant growth from 2000 to 2023 — leading to increased demand for D&O and crime insurance for community association board members driven by regulatory requirements, litigation trends and growing awareness of the associated risks. In 2015, GIG Professional Programs (a dba of GIG Insurance Group) was established to deliver professional liability and risk management services to lawyers in Florida.
Established in 2003, GWI provides professional liability insurance solutions for professionals to help them navigate the complex nature of protecting and insuring their practices. The agency’s niche specialties include lawyers’ professional liability, medical malpractice, CPA professional liability and other miscellaneous 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. NSM has the resources, capacity and industry relationships to open new doors to grow our business.”
Eric Gifford, who will be assuming the role of President of GIG Insurance Group and Gifford Wells Insurance as part of the transaction 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.”
Over the past 34 years, NSM has developed a winning formula for building the industry’s most successful and sustainable insurance programs, consistently outperforming competitors and driving industry-leading growth and profitability. This latest acquisition complements NSM’s robust portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance — backed by the company’s state-of-the-art resources, including IT, data and analytics, operations, marketing, HR and finance.
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