HUB International Limited has launched HUB Private Client Small Business Solutions, a new offering designed to provide high-net-worth clients with access to insurance coverage for the risks associated with owning and operating a small business.
The launch comes as entrepreneurial activity among affluent individuals has increased, with more high-net-worth individuals starting side ventures across various industries. In 2023, the US Small Business Administration reported a record 5.5 million new business applications.
HUB said that high-net-worth entrepreneurs face many of the same risks as other small business owners and require insurance coverage that addresses both operational and personal financial exposures.
Katherine Frattarola, HUB executive vice president and head of HUB Private Client, highlighted the importance of understanding and managing liabilities when starting a small business. She noted that HUB Private Client Small Business Solutions offers customized coverage and advice to protect not only business operations but also clients’ personal wealth and legacy.
The offering is powered by Insureon, HUB’s digital marketplace for small business insurance. The platform provides clients with access to coverage options from over 30 insurance carriers, including general liability, commercial auto, property, business owners, cyber, and errors and omissions. HUB Private Client Risk Advisors also assist in aligning business insurance with clients’ broader wealth strategies.
Jeff Kroeger, president of Insureon, emphasized that the launch of HUB Private Client Small Business Solutions reflects Insureon’s commitment to providing comprehensive coverage for small business owners. He also noted the value of HUB Private Client Advisors in offering tailored solutions that protect both business and personal assets.
HUB Private Client focuses on delivering risk advisory services for high-net-worth individuals and families, with an emphasis on customized solutions and client advocacy.
HUB International has recently acquired the assets of Employee Benefit Associations Inc. (EBA), an independent insurance agency based in Lexington, Kentucky. EBA specializes in employee benefit planning services and individual life and health coverage. The terms of the transaction were not disclosed, but EBA will continue to operate under the name EBA, a HUB International company.
Additionally, HUB International has also acquired the assets of Dansig Inc., which operates as Dansig Insurance Risk Advisors. Financial terms of this deal were also not disclosed. Based in Decatur, Illinois, Dansig is an independent insurance risk adviser specializing in employee benefits services, as well as commercial and personal insurance. The firm focuses on helping clients manage insurance costs, reduce risk, and improve employee engagement.
