Hub International Launches Specialized Forestry Insurance Program
Hub International Limited (HUB) has introduced HUB Forestry Select Insurance, a comprehensive insurance program tailored to the specific needs of Canada’s forestry industry. The program targets contractors, sawmills, manufacturers, and businesses involved in access road maintenance and powerline clearing, providing coverage for a range of industry-specific risks including fire, equipment breakdown, liability, and cargo loss.
Key Features of HUB Forestry Select Insurance
The HUB Forestry Select Insurance program offers several key features designed to support forestry businesses in managing their day-to-day operational risks while maintaining long-term stability. These features include:
- Streamlined underwriting processes
- Competitive pricing
- Dedicated claims support
- Risk management tools
- Consultation with insurance professionals experienced in the forestry sector
Addressing the Unique Needs of Forestry Businesses
The forestry industry is particularly vulnerable to various risks due to its complex operations in remote environments and heavy reliance on equipment and transport systems. This makes forestry businesses susceptible to property damage, environmental liability, and business interruption. The HUB Forestry Select Insurance program was developed to address these challenges by providing tailored coverage and sector-specific guidance.
Industry Context and Demand for Specialized Insurance
Canada’s forestry sector is a significant contributor to the country’s GDP and employment, particularly in regions such as British Columbia, Quebec, and Ontario. However, the industry is facing heightened risk exposure due to increasing incidents of wildfires, climate-related events, and logistical challenges. This has led to a growing demand for customized insurance products that can account for the operational variability across different forestry businesses.
Expert Insight
“Our goal is to support the forestry industry with an insurance solution that not only delivers meaningful value but also fosters long-term business resilience,” said Marc Chouinard, HUB’s national practice lead for Agribusiness in Canada. Chouinard emphasized that the program reflects HUB’s understanding of the sector’s risk profile and operational challenges, developed in collaboration with Specialty Program Group Canada (SPGC), a HUB-affiliated entity.
The introduction of HUB Forestry Select Insurance demonstrates HUB’s commitment to providing specialized insurance solutions that meet the evolving needs of specific industries. By offering tailored coverage and support, HUB aims to help forestry businesses manage their risks more effectively and maintain stability in a challenging operational environment.
