INSURANCE
Risk reflections- Gallagher’ s Stockton branch manager Lee Elgie.
Navigating risk in an uncertain world
Lee Elgie, manager of the Stockton office of national insurance broker Gallagher, reflects on the challenges of balancing business risk within an uncertain global climate …
Businesses across Teesside and the wider North-East continue to face a complex mix of economic uncertainty, geopolitical tension and evolving risks. For Gallagher’ s Stockton branch, it’ s been a year defined by resilience, adaptation and partnership- supporting organisations of all sizes as they navigate a landscape where global events increasingly shape local realities.
The global economy has remained unsettled. Conflicts in Eastern Europe and the Middle East have disrupted supply chains, intensified energy market volatility and placed upward pressure on inflation. Combined with persistent labour shortages and rising rebuilding costs, these pressures have tested the ability of many firms to maintain stability and growth. In this environment, the role of risk management has never been more vital.
Gallagher’ s Stockton team has seen a growing focus among local businesses on reviewing their sums insured and ensuring cover remains aligned to true replacement or rebuild values. With continued inflation across materials and skilled labour, underinsurance remains one of the most common— and costly— oversights. The branch’ s advisors have worked closely with clients to reassess valuations, helping them avoid potential shortfalls in the event of a claim.
Cyber-risk has also remained firmly at the top of the business agenda. Over the past 12 months, the UK has seen a series of large-scale cyber incidents that have disrupted operations, compromised data and caused significant financial and reputational damage. The rise in sophisticated ransomware and AI-driven phishing attacks has highlighted that no organisation is immune, regardless of size, sector or location.
Through Gallagher’ s dedicated Cyber Risk Management services, Stockton clients have been able to access practical support— from staff awareness training and vulnerability assessments to full incident response planning. The goal is to build resilience, not fear, by empowering organisations to understand where their weaknesses lie and how to strengthen their defences.
“ Cybersecurity is no longer just an IT issue,” explains Lee Elgie, managing director of the Stockton branch.“ It’ s a boardroom concern that touches every part of a business— from finance to reputation. We’ re seeing more North-East organisations taking proactive steps to protect themselves, which is encouraging.”
Beyond these emerging risks, the branch continues to support clients across all sectors— from manufacturing and construction to hospitality and professional services— ensuring their insurance programmes evolve with changing exposures. Gallagher’ s strength lies in combining a global network of expertise with the local knowledge and relationships that matter most to clients.
This year also marks a special milestone for the Stockton team: three years since becoming part of Gallagher. While the business has grown and benefitted from the resources of one of the leading global insurance brokers, the people, values and local focus remain the same. The familiar faces that Teesside businesses have trusted for years continue to lead the way, offering advice rooted in genuine understanding of the region’ s economy and community spirit.
That community connection remains a defining part of the branch’ s identity. The team regularly supports local initiatives, charity fundraisers and business events, reinforcing their commitment to the area they serve. Whether it’ s sponsoring local activities or volunteering their time, the team’ s involvement extends well beyond the office.
Looking ahead to 2026, Lee expects the risk landscape to remain dynamic.“ Economic recovery will likely remain uneven, regulatory scrutiny will continue to tighten, and the convergence of digital and physical risks will pose new challenges. But with the right preparation— and appropriate advice— businesses can remain confident in their ability to adapt and thrive.”
As the Stockton team reflects on its third year under the Gallagher name, its mission is unchanged: to help local businesses protect what matters most, plan with confidence and build resilience for whatever comes next.
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