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hub global has bolstered its credit score coverage and chance management abilities by way of acquiring ottawa-based totally jaimac risk management inc.
chicago-based worldwide brokerage hub announced the purchase friday. jaimac is an unbiased insurance brokerage that specialize in danger control and credit coverage for groups with unique chance-mitigation needs.
jaimac president paul turner and the jaimac team will join hub ontario, the huge brokerage stated in a press release.
turner based jaimac in 2005. “maximum brokerages view credit score insurance as an add-on to their middle product imparting,” jaimac said on its website. “credit score and political threat coverage is our only line of enterprise.”
the company offers tailor-made portfolio structuring, hazard mitigation and debt resolution.
in effect, credit score coverage protects a vendor whilst a client (the purchaser) can’t pay. non-price may be brought on by using quite a few motives, such as insolvency of the client or a default on fee because of cash flow issues. different risks protected by means of credit score hazard insurance include non-reputation of goods and political dangers related to precise geographic markets.
hub has been notably quiet at the canadian percent mergers and acquisitions front this yr, but has made other acquisitions, strategic agreements, partnerships and product offerings.
as an example, in march, hub partnered with acturis, a software program-as-a-provider company to the insurance enterprise, to release a digital desire platform. the multi-carrier digital platform presents hub’s small commercial enterprise customers in canada with actual-time, competitive and multiple industrial coverage rates.
the brokerage also introduced to its canadian govt management crew in march:
barbara macphail was promoted to govt vp of strategic initiatives for canada.
terri botosan is inside the newly-created position of nearby president of worker blessings, retirement & existence for canada.
david moon is in any other newly-created role as regional president of western canada.
karim chandani is hub international’s pass-border practice chief for its hospitality strong point department.
