HUB partners with Swiss Re to offer insurance to shopping centers
HUB International announced the launch of HUB Shopping Center Insurance for multi-tenant shopping centers in the US.
HUB Shopping Center Insurance is a new proprietary insurance solution for owners and operators to secure property insurance, general liability and workers’ compensation tailored to their needs.
Shopping center facilities encounter many risks, including property damage from natural disasters, vandalism, vacancies, business interruption due to equipment failures, and the growing shift from traditional retail to a larger share of non-retail, non-food tenants and even difficult-to-insure tenants. As a result, there is a growing need to go to multiple carriers to find suitable and adequate coverage potentially driving insurance costs and gaps.
“Shopping center owners and operators face multiple, unique and challenging risks where they may struggle to find adequate insurance or need to go to multiple carriers to secure coverage. HUB Shopping Center Insurance will help fulfill the need for specially tailored insurance coverage, risk services and the ability to build a package of coverage to meet their individual property and situational needs.” – James “Chip” Stuart, HUB’s Real Estate Specialty Practice Leader.
HUB Shopping Center Insurance offers owners and operators, especially retail shopping centers with sound risk management practices, multiple types of coverage through Swiss Re Corporate Solutions. To qualify, shopping centers must be operating for a minimum of three years, with insured values up to $150 million.