Chicago-based Hub International Limited announced that it has acquired Progressive Home Warranty, based in Edmonton, Alberta, and Pacific Home Warranty, based in Surrey, British Columbia.
The two companies provide home warranty insurance programs for construction home builders and homeowners, and “will become part of Hub International Barton Insurance Brokers,” based in Chilliwack, British Columbia, the announcement said.
Progressive and Pacific were established in 2004, and have provided home warranties to individual homeowners and builders “through a rigorous inspection process that minimizes risk and loss in order to limit exposure to future claims.” Both companies offer warranty coverage for single and multi-family homes – Pacific throughout British Columbia and Progressive throughout Alberta, Saskatchewan and Manitoba.
David Moon, Hub Barton’s President and COO, noted Hub’s strong position as a property and casualty broker in Canada for the construction industry, as well as a leading provider of personal insurance needs.
He said: “Progressive and Pacific enable us to bring an additional layer of risk management and services for our construction and personal lines clients, with an industry leading assessment, to further reduce exposure to claims.”
The bulletin also explained that “as many provinces have home warranty regulations in place already and others await pending legislation, Progressive and Pacific have an established solution that enables thousands of builders and exponentially more homeowners to be compliant with these laws.
“Mike Garritty, President of both Progressive and Pacific, will join Hub Barton and maintain his position, reporting to Moon,” the announcement said. “The Progressive and Pacific teams will continue to operate from their offices in St. Albert, AB and Surrey, BC.
“Together we strengthen our focus on the construction industry — offering clients solutions that reduce or eliminate claims repair costs with value added products – and that makes us a great fit,” Garritty commented. “And with Hub, we now offer a more complete and comprehensive solution to make builders stronger, while helping homeowners better protect their assets.”
Source: Hub International
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