Hub International Limited (HUB), a leading global insurance brokerage in the real estate industry, announced today the launch of SHIELD, a new umbrella/excess risk purchasing group insurance program, exclusive to HUB clients and prospects, to give commercial real estate businesses the purchasing strength to buy insurance at cost savings while reaping the benefits of broadened coverage. Additionally, with HUB servicing customers directly, they benefit from HUB’s dedication to exceptional, consistent client services.
“Umbrella/Excess liability insurance is important for any company looking to protect itself from catastrophic and unforeseen events,” said Chip Stuart, Practice Leader & Chief Sales Officer for HUB’s National Real Estate Practice. “However, our clients are now better served with HUB coordinating their insurance-buying decisions directly with carriers as we offer frontline client service, negotiated renewals and predetermined premiums. Additionally, they can benefit from our risk services resources and team to improve their risk profile to lower costs.”
As part of HUB’s recently announced Specialty Practices, SHIELD is one of the first examples of the company’s tailored insurance solutions designed to best manage its commercial real estate risks.
SHIELD will provide broad umbrella coverage, per location aggregates and limits up to $100,000,000, with no shared limits for commercial real estate businesses such as offices, warehouses, light industrial and retail properties as well as mixed use space. SHIELD will also include additional risk services for HUB commercial real estate clients including:
- Fire protection impairment, hot work programs design, and monitoring
- Water damage prevention and mitigation
- Security and protection systems evaluations
- Slip and fall preventions
- Life safety evaluations
- Safety program review and development
- Audit and inspection processes
- Claim reporting and advocacy
- Real property replacement cost valuations
“Given the problems of growing loss severity, less insurance availability, and increasing premiums, HUB recognized an opportunity to better serve our clients by offering this proprietary product nationwide through multiple carriers rated ‘A+, XV’ or better by A.M. Best,” said Tom Delark, Chief Marketing Officer of HUB’s National Real Estate Practice. “We’re thrilled to bring this proprietary solution to our clients and look forward to continuing our quest to develop solutions that best manage our commercial real estate clients’ risks.”
HUB collaborated with Sompo Global Risk Solutions, a business within Sompo International which offers comprehensive multiline insurance coverages targeted at select industry verticals and client segments. Sompo’s underwriting capabilities and depth of experience within real estate helped to establish SHIELD’s best-in-class coverage and service offerings.
Headquartered in Chicago, Illinois, Hub International Limited (HUB) is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. For more information, please visit hubinternational.com.