Hub International unveils franchise insurance offering
Hub International unveils franchise insurance offering | Insurance Business America
Insurance News
Hub International unveils franchise insurance offering
Platform offers all-in-one solution
Insurance News
By
Mika Pangilinan
Global broker Hub International Limited (HUB) has launched a new offering aimed at assisting franchisors and franchisees in the US and those with cross-border operations in Canada.
The franchise insurance platform is billed as an “all-in-one” solution for the multi-industry franchising sector to manage insurance needs, review competitive pricing, and ensure compliance.
According to HUB, the platform provides users with a comprehensive overview of insurance options, competitive pricing comparisons, and a convenient way to monitor insurance certificates.
Automated alerts notify franchisees when it’s time to renew insurance policies or if they fall out of compliance. The platform also provides users with claims notifications and live agent support via both phone and live chat.
“Maintaining insurance is complex in franchising, especially for multi-unit operators,” said Chris Treanor, HUB president of programs and specialties.
“As additional locations open, the franchisors typically lack the tools to track insurance compliance while the franchisees may set up an insurance program that lacks structure – under-insured in some locations, over-insured on others, navigating many different expiration dates and paying more than they should.”
In the highly regulated franchising industry, compliance extends beyond federal laws to encompass state-level franchise regulations. Both franchisors and franchisees must ensure compliance not only in their home state, but in states where their franchises are located.
“Our solutions help to navigate these complexities offering not only best coverage and pricing for the franchisees while maintaining contractual compliance for the franchisor,” said Treanor.
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