HUB International Expands with Tailored Solutions for High-Net-Worth Entrepreneurs

HUB International Limited, a leader in insurance brokerage and risk management consulting, has unveiled an innovative new service aimed at high-net-worth individuals who are venturing into entrepreneurial activities. This launch, known as HUB Private Client Small Business Solutions, is a strategic move to provide comprehensive insurance coverage tailored to the unique risks associated with owning and operating small businesses. In response to a significant rise in entrepreneurial endeavors among affluent individuals, HUB has recognized the need for customized insurance solutions that not only address business risks but also safeguard personal financial interests. As the U.S. Small Business Administration reported a record-breaking 5.5 million new business applications in 2023, there is an undeniable surge in entrepreneurial spirit. Understanding that high-net-worth entrepreneurs encounter many of the same challenges as other small business owners, HUB's new offering is designed to offer a dual-layer of protection. This means addressing both the operational risks of a small business and the personal wealth risks of its owner. Katherine Frattarola, Executive Vice President at HUB and head of HUB Private Client, underscores the significance of comprehensively understanding and managing potential liabilities when launching a business. HUB Private Client Small Business Solutions is designed to offer both tailored coverage and expert advice, which are instrumental in ensuring that their client's business operations and personal legacies remain secure.

The bespoke offering is powered by Insureon, HUB's dedicated digital marketplace for small business insurance. Clients have the unique advantage of accessing a multitude of coverage options from a diverse range of over 30 leading insurance carriers. These options include, but are not limited to, general liability, commercial auto, property, business owner's policies, cyber insurance, and errors and omissions coverage. HUB Private Client Risk Advisors play a pivotal role in harmonizing business insurance strategies with broader wealth management strategies. With deep expertise and a focus on client advocacy, advisors work closely with clients to align their insurance coverage with their wealth strategies. This intricate alignment is crucial in affording clients peace of mind, knowing their financial interests are protected across all fronts.

Jeff Kroeger, President of Insureon, highlights that the introduction of HUB Private Client Small Business Solutions is a testament to Insureon's unwavering commitment to delivering comprehensive and customized coverage solutions specifically for small business owners. This novel offering underscores the value and expertise of HUB Private Client Advisors, who have earned a reputation for delivering tailored solutions that protect business and personal assets alike. The program represents the culmination of years of experience in delivering sophisticated risk management services for high-net-worth individuals and families. With an emphasis on client advocacy and personalized solutions, HUB Private Client stands as a cornerstone for affluent clients seeking refined insurance and risk management guidance.

Aside from expanding their services for entrepreneurs, HUB International is actively advancing its growth strategy through recent mergers and acquisitions. They have acquired the assets of Employee Benefit Associates Inc. (EBA), a Lexington, Kentucky-based independent insurance agency specializing in employee benefits planning and individual life and health coverage. This acquisition is poised to enhance HUB’s service offerings within the employee benefits sector, although EBA will maintain its operational identity as a subsidiary of HUB. Additionally, HUB has acquired the assets of Dansig Inc., an independent insurance risk advisor based in Decatur, Illinois, that provides services in employee benefits, commercial, and personal insurance. Dansig is well-regarded for assisting clients in managing costs, reducing risks, and boosting employee engagement. Through these strategic acquisitions, HUB International continues solidifying its position as a formidable entity in the insurance brokerage and risk management industry.