Hub International Limited (HUB), a premier global insurance brokerage and financial services firm, has recently announced the introduction of HUB Builder’s Risk Insurance Solutions.
This new offering is a comprehensive insurance and risk mitigation package tailored for project owners, general contractors, and developers involved in both frame and non-frame construction projects. It aims to streamline the process of securing insurance coverage, ensuring compliance with carrier underwriting standards, and reducing project risks and delays.
The inception of HUB Builder’s Risk Insurance Solutions was driven by the critical need to manage property damage claims resulting from construction activities. Achieving coverage traditionally necessitates adherence to specific carrier underwriting criteria, including water mitigation, fire resistance technologies, and site security measures. Project owners are often required to engage multiple vendors or contractors to install necessary systems to qualify for insurance coverage.
What HUB International does is provide a holistic approach to insurance and financial services. With a focus on risk management, insurance, employee benefits, retirement, and wealth management products, HUB serves as a beacon of clarity and tailored solutions in an ever-evolving global landscape. Their vast network of specialists across North America ensures that clients receive customized advocacy and solutions, preparing them for the future.
The product itself, HUB Builder’s Risk Insurance Solutions, is a turnkey approach that employs highly-rated third-party vendors to deliver top-tier mitigation solutions. It includes a proprietary mobile app that grants complete visibility and oversight of carrier requirements for any given project, addressing the financial and logistical challenges of coordinating multiple mitigation systems.
HUB International, headquartered in Chicago, Illinois, stands as a full-service global insurance broker and financial services firm. With over 17,000 employees and offices throughout North America, HUB specializes in bringing clarity to complex challenges through tailored solutions and unwavering advocacy.
HUB Executive Vice President of the Construction Specialty Practice, Kirk Chamberlain, said, “The complex and often time-consuming process of engaging multiple vendors and contractors for mitigation systems can pose significant financial and logistical burdens.
“We understand these challenges and now offer a complete solution for clients. HUB Builder’s Risk Insurance Solutions provides appropriate insurance protection plus the peace of mind of knowing all underwriting requirements have been met, and the project is adequately protected against theft, fire or water damage.”
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