Hub International Limited (HUB) has launched a hospitality captive, an exclusive member-owned group captive insurance program designed for hospitality clients.
Through the use of a captive, hospitality clients can gain better insight into exposures and risks, and have the option of costs savings and rewards, including the potential for the client to earn back as much as 60 percent of their insurance premium.
Mid-to large-sized hospitality organizations that are paying minimum insurance premiums of $500,000, who have a better than average loss experience and are committed to safety and risk management, may qualify. The captive includes customizable insurance options and risk services for:
- Workers’ compensation
- General liability
- Liquor liability
- Auto liability and auto physical damage
- Claims management and advocacy services.
HUB’s hospitality captive participants are also covered for catastrophic losses by an A+ rated carrier.
According to Evan Muffly, executive vice president of HUB Captive, HUB’s group captive was created out of demand from brokers. HUB’s group captive has been specifically designed for insuring the exposures of the hospitality industry as well as other industries, including but not limited to: manufacturing, healthcare, retail, distribution, wholesale and warehouse and storage.
Headquartered in Chicago, Illinois, Hub International Limited is a full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services.
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