Issue link: https://nebusinessmedia.uberflip.com/i/1519935
BUSINESS PROFILES | MAY 2024 | HARTFORD BUSINESS JOURNAL 13 Address: 189 Commerce Court, Cheshire, CT 06410-0189 Phone: (203) 272-8220 Website: www.haigroup.com Product or Service: Insurance, online training, and research for the public and affordable housing industry Top Executive: Ed Malaspina, President and Chief Executive Officer No. of Employees: 171 Year Founded: 1987 Serving the nation's public housing providers W hen public housing authorities were looking for insurance in the 1980s, they found few carriers willing to take the risk at a price the authorities could afford. So, a group of forward-thinking authorities created their own insurer, what is now known as HAI Group. Connecticut, as the insurance capital of the world, was the natural place to put it. Over the next three decades and more, HAI Group has grown into the largest property and casualty insurer for public housing in the U.S. And it is the only insurer owned and governed by housing authorities, ensuring it is closely aligned with the needs and interests of its policyholders. The company also benefits from employees motivated by its mission of insuring organizations that provide housing to people and communities most in need, said Ed Malaspina, HAI Group's president and CEO. "People really do feel good about coming to work every day." And they do more than just underwrite insurance. Employees at HAI Group collaborate on a wide range of products and services for their policyholders. The menu includes insightful research into the latest trends in public housing, as well as online training videos focused on the needs of people working in the field of public housing. "They are great programs that build and enrich our communities," Malaspina said. HAI Group also boasts an in-house insurance agency, which offers a range of brokerage and risk management services. Among the growing needs for insureds of HAI Group is builder's risk insurance, which offers coverage during the construction process. Housing authorities nationwide are racing to address a critical shortage of affordable housing. HAI Group, meanwhile, is eyeing new products and services that can help housing authorities cope with rising costs, which impact the premiums they pay for property insurance. The company could help policyholders devise steps, for example, to minimize losses, Malaspina said. "We're well aware of the challenges that are out there and we do our best to help mitigate the impact." And while HAI Group does business nationwide, it is focused on assisting how it can in its own backyard. To address food insecurity for people in public housing in and around its hometown of Cheshire, for example, HAI Group employees planted a community garden and now donate the harvests to a local food pantry. "It's incredible to know we are part of a farm-to-table process for our local community," Malaspina said. In addition, the company partnered with the Southington Housing Authority to paint picnic benches and otherwise spruce up the authority's communities. On a national level, HAI Group awards scholarships to resident students in public housing. To date, the company has handed out about $2.5 million, Malaspina said. Given the tradition of community service, and the day-to-day mission of the company, it is no wonder that HAI Group routinely wins awards as one of the best places to work, including recognition this year as a Top Workplace in the nation by USA Today. "That is just a testament to our work-life balance and the way that we treat our employees," Malaspina said. From left: Ed Malaspina, Paul Lagonigro, Tony Corleto, Sherry Sullivan, Amy Galvin, Reggie Freeman, Troy LePage, Courtney Rice and Bernie Odoy From left: Kelly McElwain and Cate Asp