Hub International Sets Up Hospitality Group Captive Insurer

Hub International Limited (HUB) has set up a hospitality member-owned group captive insurance company. The new hospitality captive is for "best-in-class hospitality operators who historically manage their risks well, ... [have] a solid safety culture, who desire greater control in how their claims are handled, and [who] want to turn their insurance premium into an investment opportunity," according to Kevin Eggleston, practice leader of HUB Hospitality Specialty Practice.

HUB said it designed the hospitality group captive to meet the challenges of insuring the exposures of the hospitality industry as well as other industries, including but not limited to manufacturing, health care, retail, distribution, wholesale, and warehouse and storage.

The group captive is geared toward mid-to-large-sized hospitality organizations that are paying minimum insurance premiums of $500,000, who have a better-than-average loss experience, and who are committed to safety and risk management. According to HUB, the captive includes customizable insurance solutions and risk services as follows.

• Workers compensation
• General liability
• Liquor liability
• Auto liability and auto physical damage
• Claims management and advocacy services

Evan Muffly, executive vice president of HUB Captives, said, "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."