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Hub Launches Umbrella Group Insurance Aimed at CRE
Chicago-based global insurance brokerage Hub International has launched an umbrella/excess risk purchasing group insurance program, to give commercial real estate and hospitality businesses additional purchasing strength along with broadened coverage. Known as SHIELD, the program is available exclusively to Hub customers and prospects.
“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.
SHIELD will provide broad umbrella coverage, per location aggregates and limits up to $100 million, with no shared limits for commercial real estate businesses such as offices, warehouses, light industrial and retail properties, as well as limited use hotels and mixed- use space. Hub collaborated with Sompo Global Risk Solutions, which targets select industry verticals and client segments.
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