Hub Int’l forms a partnership with the largest truck broker in Mexico

Hub International Ltd. (HUB), the Chicago-based insurance broker, has announced an exclusive referral partnership and broker program in the US, Canada and Mexico with MAS Seguros, the largest truck insurance broker in Mexico.

The partnership is a response to Mexico’s growing influence in the global economy and a reflection of HUB and MAS Seguros’ commitment to expand their capabilities to better serve clients doing business in North America, HUB said.

Due to changing global political relations and policies, there has been significant movement for manufacturing operations in Mexico, according to HUB, which cites a CNN article.

This trend comes with increased risk and insurance challenges when transporting goods across borders, HUB said, explaining that organizations face regulatory compliance issues, crime, product damage, catastrophic weather events and accidents.

In addition, several trucking companies from Mexico are moving to the US. As a result, there is an emerging need for transportation and logistics to manage risk and insure transportation, property and assets while transporting goods to Mexico for production and then back to the US and Canada.

“The changing landscape of Mexico’s economy, modernizing trade agreements and the growing trend of companies moving production closer to North American markets have fueled increased demand for on-site guidance and a seamless cross-border assurance, risk and compliance chain . solution,” said Lisa R. Paul, director of strategy, Transportation Specialty Practice at HUB International, in a statement.

Headquartered in Mexico City, Mexico, MAS Seguros has over 30 years of experience in heavy trucking and advises clients on risk, offering the best quality insurance products, coverage programs and services from underwriting to management damages. With 26 locations in Mexico, they serve over 4,500 customers with over 65,000 insured units

Clients of both organizations 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, HUB continued.

Customers will also have access to an integrated, easy-to-use 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.

“Partnering with HUB is a game changer for our operations as it helps us expand our reach beyond Mexico and offer a truly North American solution,” said Alejandro Rentería, managing partner and co-CEO of MAS Seguros.

“Combining our deep knowledge of the Mexican market with HUB’s extensive network, expertise and technology platform, we are well positioned to provide our clients with cross-border insurance and risk management solutions,” said Rentería. “We look forward to working with HUB, which will make us stronger and more competitive to meet the growing need for trusted advisors as complexity increases in the manufacturing and transportation industries.”

Source: Hub International Ltd.

TOPICS
Shipping agents Mexico