Markets/Coverages: HUB International Launches Platform to Manage Insurance Needs of Franchisors, Fanchisees

HUB International Ltd. (HUB), the Chicago-based insurance brokerage and financial services firm, announced the launch of HUB Franchise Insurance Solutions, a digital platform to help franchisors and franchisees manage their insurance needs in one location.

With HUB Franchisee Insurance Solutions, franchisors and franchisees in the U.S. and those with cross-border operations in Canada will be able to digitally review insurance options and competitive pricing. In addition, they can track insurance certificates, receive automated updates when franchisees are not in compliance and/or need to renew insurance policies, and review claims notifications, with the added benefit of live agent support via phone or live chat.

“Maintaining insurance is complex in franchising, especially for multi-unit operators. As additional locations open, the franchisors typically lack the tools to track insurance compliance while the franchisees may set up an insurance program that lacks structure – under-insured in some locations, over-insured on others, navigating many different expiration dates and paying more than they should,” commented Chris Treanor, Hub president of Programs and Specialties.

“Our solutions help to navigate these complexities offering not only best coverage and pricing for the franchisees while maintaining contractual compliance for the franchisor,” Treanor added.

While franchising is regulated at the federal level, there are also state-level franchise laws, said Hub, explaining that franchisors and franchisees must be compliant in the state where they are headquartered and in the states where the franchises are located.

HUB Franchise Insurance Solutions helps ensure franchisors and franchisees understand these complexities and are insured appropriately, the broker said.

Topics New Markets