Motus partners with HUB International
Motus Insurance announced a strategic distribution partnership with the HUB International Real Estate group lead by Jonathan Naranjo and Kevin Eggleston. Motus has built an expanded offering of its earthquake program exclusively for HUB’s CCCASA members and its high-rise luxury condo portfolio.
This marks the first time Motus has aligned its earthquake “opt-in” program to fire casualty program.
“Our program was built to help individuals fully insure their special assessment exposure from earthquakes when association boards buy partial or no earthquake insurance. Clearly, HUB’s reputation within the market and penetration into the High-Rise market through their CCCASA program and portfolio of business, makes them a perfect partner for our earthquake program. Individuals living in high-rise communities will benefit the most by having access to a custom earthquake program that removes limits and exclusions that had previously restricted unit owner’s ability to properly insure their earthquake exposures.” – Dan Wallis, President of Motus.
“We are thrilled to be aligned with MOTUS as our business model and industry specialty have great synergies. By partnering with HUB/MOTUS, our owners living in these beautiful luxury condominiums now have a strategic partner in helping them procure earthquake coverage that historically has not been readily available, and often times, costly. MOTUS solves this deficit in the marketplace and we are excited to offer this solution as a value-add to the many communities we serve and for our owners looking for earthquake coverage protection.” – Jonathan Naranjo, VP of the Real Estate group at HUB.
The Motus Opt-In Earthquake Program is designed to bring all the benefits of a traditional master earthquake insurance policy to the more than 30,000 associations and 2.2 million condo owners who are not covered by one.
Only a master earthquake policy can allow a condo owner to fully protect the equity in their home. This is because only a master policy can fully cover damages to residential buildings, foundations, garages, underground pipes and other common areas within the community. Traditional unit owner policies (which are unavailable to many condo owners) were designed to supplement a traditional master policy – not replace the coverage they provide.
Each Motus Program is custom-built based on the specific exposures of the association. Once the board approves the Motus Program for their association, each unit owner then has the option to purchase their pro-rated share of a master policy – covering unit interiors, residential buildings and common areas.