Hub International Insurance: Is it Worth it? [Employer Review]

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Hub International Insurance: Is it Worth it? [Employer Review]

As an employer, you must think about your employees’ wellbeing and provide them with an attractive benefits package. One of the most important things you should consider offering your staff is insurance. However, with so many insurance providers in the US, including Hub International, it can get tricky to choose the best one. 

This review will give you an idea about what the offers, and how it compares with other insurance providers. This will give confidence about whether or not Hub International Insurance is for you. Let’s dive into it:

Hub International Insurance Overview

Hub International offers a range of business and personal insurance products to protect their employees. The advertises itself as an insurance brokerage firm, with lots of services and products on offer (we’ll discuss these later.) 

The was formed in 1998 when 11 Canadian companies merged to form Hub International. By the year 2000, the was operating in America and achieved $95.2 million of revenue. Today, they’re one of the leading insurance brokers in the world and divide their into six regions to offer a better customer experience. 

The Balance ranks Hub International Insurance Services as the 8th largest broker in the world, with £1.8 billion of revenue. One reason for the ‘s success is its core values and ethics. Hub places integrity, customer , and accountability as defining factors in how they choose to approach business, and it seems to work well. 

Corporate Image 

Organizations that give back to society consistently rank higher with customers, especially the millennial crowd. Hub Gives is an initiative that encourages Hub International employees to donate their time to a range of causes. 

Every regional office chooses a cause they are passionate about and creates a project to improve things for others. Some of the companies projects include fighting homelessness, improving conditions for the elderly, and funding for low-income areas. 

Corporate image is essential, and partnering with Hub could improve your reputation, especially with your workforce. Employee experience is central to growing your business, and forward-thinking individuals will be enthusiastic about working with an employer that partners with ethical companies. 

Hub International Insurance Services 

It’s nice to know that a has a good reputation and takes responsibility for society, but if they don’t offer what you’re looking for, there’s no point in partnering with them. Hub provides a range of services, but we’ve picked the ones that will benefit you as an employer. 

The two key areas you should focus on when looking at insurance companies are business insurance and employee benefits. Life is unpredictable, and if you don’t protect your business against unforeseen accidents and expenditures, it could impact you negatively. 

We’ve already mentioned how important it is to consider your employees’ wants and needs, especially when it comes to benefits. Most business owners liaise with their team and find a benefits specialist to source the best deals available. However, the you partner with is your choice, so you should always get a clear picture of what they offer. 

Business Insurance 

Hub International Insurance has a range of business insurance packages to suit companies of all sizes. Let’s examine them more. 

Commercial Property 

Commercial property insurance covers your building and contents in the event of damage and loss. Equipment can break, severe weather can destroy your signage, and vandals often damage buildings. Commercial property insurance saves your money if you need to carry out repairs. 

General & Business Liability

While commercial property insurance protects your building to some degree, you could end up spending a fortune on lawsuits and negligence claims. A general liability policy protects your business from the costs of customer, client and employee claims. 

Workers’ Compensation

In the US, 49 states must have workers compensation insurance by law. The amount you pay for worker’s compensation insurance depends on the state you live in, how many employees you have, and numerous other factors. You can find more information

The Business Owners Policy 

If you’re a new business owner, then Hub International makes it easier to protect your with their Business Owners Policy. Working with a specialist adviser, you’ll put together a policy that works for your business. 

Business Interruption 

There are many reasons your business might have to cease operations, including natural disasters, cyber breaches, and equipment damage. Business interruption insurance is invaluable in these circumstances because it replaces your loss of profits during difficult times. 

Cyber Insurance 

Unfortunately, hackers and data breaches are common issues business owners face, and the effects can be devastating. When your systems are compromised, it can put your out of business, but cyber insurance can protect you from the financial implications of these attacks. 

Employee Benefits 

There are plenty of employee appreciation ideas around, but the best thing you can do is implement an excellent benefits package. Hub International Insurance Services provide a comprehensive selection of employee benefits, which can improve your staff retention levels. 

The works with businesses of all sizes to form a strategic benefits plan that incorporates the following areas: 

  • Retirement plans to ensure your workforce can plan for a comfortable retirement and transition with ease. 
  • Voluntary benefits that let your staff choose policies. These supplemental benefits include dental, vision, cancer, and long-term illness insurance. 
  • Executive benefits for top-tier employees, including wealth management plans and life insurance. 
  • Health policies to increase employee performance and promote wellbeing in the workplace. 
  • Global benefits to protect your staff members around the world. 

While many companies offer employee benefits, I’m impressed by the sheer amount on offer from Hub International. The best part of this is you get access to a specialist advisor to put your benefits packages in place. 

Is It Worth It? 

You now know what Hub International can offer you in terms of products and services, but is it worth partnering with them? Well, according to the Better Business Bureau, the has an A+ rating, which shows it’s highly regarded amongst professionals. 

With over 21 years in the insurance business, the knows what it’s doing and is financially stable. Of course, there are many aspects to take into consideration, and the lacks reviews from customers to get a clear idea of whether it’s worth it. There’s no negativity surrounding the , but there isn’t any positivity either. 

However, if we’re basing our review on the range of products and services Hub International offers, then it’s clear they’ve put together a competitive package for business owners. Small companies and -ups might find the specialist advice the biggest asset of partnering with Hub.