Chicago, IL, October 1, 2024 - Hub International Limited (HUB), a leading global insurance brokerage and financial services firm, announced today an exclusive referral and broker program partnership throughout the U.S., Canada and Mexico with MAS Seguros, the largest trucking insurance broker in Mexico. The partnership is a response to Mexico’s growing influence in the global economy and a reflection of HUB’s and MAS Seguros’ commitment to expanding its capabilities to better serve clients doing business throughout North America.
Due to changing global political relationships and policies*, there has been a significant move for manufacturing operations to Mexico, which comes with increased risk and insurance challenges when transporting goods cross-border. Organizations face regulatory compliance issues, crime, product damage, catastrophic weather events and accidents. Additionally, more transportation firms from Mexico are moving to the U.S. As a result, there is an emerging transportation and logistics need to manage risk and insure freight, property and assets while transporting goods into Mexico for manufacturing and then back to the U.S. and Canada.
“The changing landscape of Mexico’s economy, modernization of trade agreements and the growing trend of companies nearshoring production closer to North American markets have fueled an increased demand for on-the-ground guidance and a seamless cross-border insurance, risk and compliance supply chain solution,” said Lisa R. Paul, CPCU, Chief Strategy Officer, Transportation Specialty Practice at HUB International.
Both organizations’ clients will have access to best-in-class capabilities through an established network of insurance, risk and claims professionals as well as referrals to legal professionals in all three countries. They will also have access to an integrated, user-friendly digital interface to manage their telematics data and transportation operations through HUB’s proprietary technology platform, HUB Drive Online. The seamless cross-border solution is for any product transported across North American borders by air, sea, truck or rail.
Headquartered in Mexico City, Mexico, MAS Seguros has more than 30 years of experience in heavy trucks and provides risk advisory to clients by offering insurance products, coverage programs and best-in-class services from underwriting to claims management. With 26 locations across Mexico, they serve more than 4,500 clients with over 65,000 insured units.
“Partnering with HUB is a game-changer for our operations as it helps expand our reach beyond Mexico and offer a truly North American solution,” said Alejandro Rentería, Managing Partner and Co-CEO of MAS Seguros. “By combining our deep knowledge of the Mexican market with HUB's extensive network, expertise, and technology platform, we are well-positioned to deliver seamless cross-border insurance and risk management solutions to our clients. We look forward to working with HUB, which will make us stronger and more competitive to face the growing need for trusted advisors as complexity grows in the manufacturing and transportation industries.”
For more information on the HUB Transportation Specialty Practice, click here.
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 18,000 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.
