Hub International (Hub), a leading global insurance brokerage, announced that it has acquired the assets of Alexander Insurance Agency (Alexander), a San Antonio, Texas-based independent brokerage of commercial lines insurance for the commercial towing and transportation industries.
Terms of the acquisition were not disclosed. Alexander will become part of Hub Transportation, a national practice focused on combining national reach with local service to address the needs of large fleet, small fleet and single owner trucking operations.
Alexander has served the commercial towing and transportation industries since 1975, addressing the unique class of auto insurance and special coverage needs of this industry throughout the U.S. Larry Alexander, President, will join Hub Transportation and will report to Dennis Templeton, Senior Vice President and Chief Sales Officer for Hub Transportation.
Alexander’s San Antonio office will join Hub’s existing San Antonio location, while leveraging Hub’s national network to bring more resources to its clients.
Hub Transportation is focused on delivering insurance and risk management services to address liability and insurance coverage gaps caused by the transportation industry’s challenges when facing driver retention, regulatory compliance and contractual liability issues.
"The tow truck and recovery industry has unique driver retention, recruitment and training needs it has to consider in order to ensure the best insurance coverage is in place," noted Templeton.
"We’re excited to have the Alexander team join Hub as they are clearly industry experts in transportation and understand the risks and insurance needs of this segment."
Hub International provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America.