HUB International Limited has introduced HUB Private Client Small Business Solutions, a new insurance offering designed for high-net-worth individuals who own or operate small businesses. This move comes amid a surge in entrepreneurial activity among affluent clients, with the US Small Business Administration reporting a record 5.5 million new business applications in 2023.
The new offering addresses the unique insurance needs of high-net-worth entrepreneurs, who face similar risks to other small business owners but with the added complexity of personal wealth exposure. Katherine Frattarola, HUB executive vice president and head of HUB Private Client, emphasized the importance of managing liabilities when starting a small business. She noted that HUB Private Client Small Business Solutions provides customized coverage and advice to protect both business operations and clients’ personal wealth and legacy.
Key Features of HUB Private Client Small Business Solutions
- Powered by Insureon, HUB’s digital marketplace for small business insurance
- Access to coverage options from over 30 insurance carriers
- Includes general liability, commercial auto, property, business owners, cyber, and errors and omissions insurance
- HUB Private Client Risk Advisors help align business insurance with clients’ broader wealth strategies
Jeff Kroeger, president of Insureon, highlighted the platform’s commitment to providing comprehensive coverage for small business owners. He praised the collaboration with HUB Private Client Advisors in offering tailored solutions that protect both business and personal assets.
HUB Private Client specializes in delivering risk advisory services for high-net-worth individuals and families, focusing on customized solutions and client advocacy. The launch of HUB Private Client Small Business Solutions reflects the company’s response to the growing trend of affluent individuals starting new business ventures.
Recent acquisitions by HUB International include the assets of Employee Benefit Associations Inc. (EBA) and Dansig Inc., expanding their capabilities in employee benefit planning and insurance risk advisory services. These moves demonstrate HUB’s commitment to enhancing its service offerings for high-net-worth clients and small business owners.
