Hub International has launched a captive insurance solution for the hospitality space.
According to a release, the solution was designed especially for hospitality clients and prospects to better understand their exposure and risks, and “to turn that knowledge into cost savings and rewards.”
Hub said that the captive solution allows hospitality clients to earn back as much as 60% of their insurance premium.
The captive includes customizable insurance solutions and risk services for the following:
- Workers’ compensation
- General liability
- Liquor liability
- Auto liability and auto physical damage
- Claims management and advocacy services
“HUB’s hospitality captive allows qualified members the ability to turn insurance cost into a future income stream, especially the best-in-class hospitality operators who historically manage their risks well,” said Hub hospitality specialty practice leader Kevin Eggleston.
Eggleston added that the captive is for those clients with a “solid safety culture” who not only want more control over how their claims are handled, but are also looking to turn their insurance premium into an “investment opportunity.”
“HUB’s group captive was created out of demand from our brokers who had their client’s best interests in mind,” remarked Hub Captives executive vice president Evan Muffly. “We’ve carefully developed our captive services for the hospitality industry, as well as other industries, so that businesses understand their exposures, obtain coverage, manage risk, and gain access to the tools they need to turn their risks into rewards in order to generate significant savings and substantial returns for the captive members.”