HUB INTERNATIONAL LAUNCHES PRIVATE CLIENT WATERCRAFT RISK ADVISORY SERVICES

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Oct 23, 2023, 08:00 ET

A Specialized Offering Designed to Provide Consultative Guidance to Help Affluent Clients Secure Insurance Coverage for Luxury Yachts and High-Performance Watercrafts

CHICAGO, Oct. 23, 2023 HUB International (HUB), a leading full-service global insurance brokerage and financial services firm, announced today the launch of HUB Private Client Watercraft Risk Advisory Services. The new offering will support high-net worth (HNW) and ultra-high-net worth (UHNW) clients with proactive counsel from marine specialists on the specific risks and insurance considerations of owning and maintaining luxury yachts and high-performance watercrafts – including implications of the value, performance, operations, docking and storage.

"The marine specialists on Watercraft Risk Advisory Services team will help our clients proactively address issues and develop strategies to enhance the safety, security and insurability of their luxury yachts and high-performance watercraft," said Katherine Frattarola, Executive Vice President, HUB Private Client. "This is just one of the many ways we are building out resources to help our clients explore options, address needs and customize solutions to protect their prized possessions."

Owning and operating a high-value and high-performance watercraft carries a distinct set of risks, and managing all potential vulnerabilities requires an experienced marine specialist's perspective as the value and performance characteristics of the watercraft are often underestimated and need to be addressed prior to making a purchase.

HUB Private Client Watercraft Risk Advisory Services will maximize the potential for securing adequate marine coverage by identifying and approaching reputable carriers and delivering a comprehensive story about key details, including make, model, horsepower, storage location, usage (frequency and charter), and the operator and crew experience. Additionally, HUB will review factors that impact insurance coverage options and provide access and introductions to resources that help clients to ensure the insurability of the watercraft including:

Assess in-season and off-season dockage and storage solutions
Evaluate and recruit qualified captains and crew, and determine proper worker's compensation
Secure the services of experienced marine surveyors, mechanics, and dry dock facilities
Arrange the safe delivery of the watercraft to the client's destination to reduce potential claims
Develop a personalized watercraft risk management plan

About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 17,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit Hub Media Center.

MEDIA CONTACTS:
Marni Gordon
Phone: 312-279-4601
[email protected]

Jessica Wiltse
Phone: 312-596-7573
[email protected]

SOURCE Hub International Limited