Chicago-based Hub International is continuing to expand its presence in the Canadian insurance industry, announcing the acquisition of two home warranty insurance providers this week.
Progressive Home Warranty, based in Edmonton, Alberta, and Pacific Home Warranty in Surrey, British Columbia, provide home warranty insurance programs for construction home builders and individual homeowners. The two groups will become part of the Chilliwack, British Columbia-based Hub International Barton Insurance Brokers.
Hub said the acquisition of Progressive and Pacific positions the company as a strong leader in the construction insurance industry, as well as a top provider of personal insurance.
“Progressive and Pacific enable us to bring an additional layer of risk management and service for our construction and personal lines clients, with an industry leading assessment, to further reduce exposure to claims,” said Hub Barton President and COO David Moon.
Mike Garritty, president of both Progressive and Pacific, will join Hub Barton while maintaining his position and reporting to moon. The teams with both companies will remain in place in their respective offices.
“Together we strengthen our focus on the construction industry – offering clients solutions that reduce or eliminate claims repair costs with value added products – ad that makes us a great fit,” Garritty said. “And with Hub, we now offer a more complete and comprehensive solution to make builders stronger, while helping homeowners better protect their assets.”
The timing of the acquisitions is strategic, as the construction industry in Canada is dealing with more home warranty regulations either pending or already in place. The alignment with Progressive and Pacific means Hub will have at its disposal a number of insurance professionals familiar with ensuring homeowners and builders are compliant with those laws.
