Hub International Insurance has announced that its dedicated trucking insurance operation is now fully operational.
In 2012, Hub noticed that the trucking industry grew at two times the speed of total U.S. employment. The company felt there was a gap in the nation-wide market and began to create the Hub Transportation arm.
By acquiring smaller trucking operations and combining them with existing in-house staff, the division has quickly come together and is fully operational.
The new division is based in Salt Lake City, Utah, with two other main branches in the States — Colchester, Vermont and San Antonio, Texas — and smaller branches throughout North America. Hub Transportation has over 80 employees and over $200 million in premiums.
Hub's goal? To become the largest commercial truck insurance broker.
"The vast majority of trucking companies are small businesses. Nine in ten run fewer than six trucks with only one in every thirty fleets operating more than 20 trucks. Owner/drivers especially are busy winning business, planning routes and making deliveries," says Zak Katz, programs manager for Hub Transportation. "Arranging their commercial trucking insurance can be very time consuming. They don't have time to get multiple quotes from different suppliers or to keep on top of the latest offers and changes in terms that appear from time to time."
"But we do. It's all we do. Day in, day out, we look at risks, negotiate with insurance providers, analyze trends in areas like fleet safety and review updates to Department of Transportation regulations."
