HUB Hospitality Benefits Captive

Engaged employees deliver a better guest experience.

Unhappy employees can negatively impact the guest experience at your establishment. Even worse, they leave their jobs in droves, compounding existing labor shortages and creating additional stress on your workforce.

Offering outstanding benefits helps retain employees, and an engaged workforce translates to positive encounters with your guests. A tailored benefits strategy can make that happen — and it doesn’t have to increase your costs.

HUB offers a unique alternative to traditional benefit programs — HUB Hospitality Benefits Captive — for employers with over 75 covered employees.

What is captive insurance?

Captive insurance can provide customized insurance, risk transfer and risk management solutions. HUB Hospitality Benefits Captive offers several advantages, including:

• Improved risk management
• Multi-state capabilities and coverage for operations in Canada
• Cost reduction
• Comprehensive coverage
• Underwriting profits and investment income returns
• Cash flow improvement

Is a benefits captive right for my business?

A benefits captive is a risk management program allowing employers to control and administer their benefits plan. The employer is acting as their own insurance company, backing claims with their cash reserves and stop loss insurance.

HUB Hospitality Benefits Captive offers employers from all segments of the hospitality sector access to tailored benefits captive insurance within their specialty industry group. Here are the key advantages to joining this captive:

• Offer benefits that your employees will value: Optimize your benefits budget by selecting the benefits that are best suited for your employees and their families.
• Significant savings on good years: Low claims contribute to decreased annual costs unlike a fully insured plan, where you experience annual renewal increases regardless of your company’s claims experience.
• Access to specific and aggregate stop-loss coverage: Both specific and aggregate coverage are included to protect against the risk of unpredictable claims. Every member contributes to a fund that creates a long-term buffer against stop-loss premium increases.
• Integrated cost management: Your claims data feeds an integrated cost management intelligence system that triggers interventions to help your employees get the right care and help you control costs. Data-driven intelligence and advanced analytics help you act on opportunities to reduce costs.

HUB Hospitality Benefits Captive is best suited for hospitality employers with stable claims experience and a predictable cash flow. The product is available to all clients in the United States and those with cross-border operations in Canada.

To find out if this is the right solution for you, talk to a hospitality specialist.