Hub International has strengthened its credit insurance and risk management capabilities by acquiring Ottawa-based Jaimac Risk Management Inc.
Chicago-based global brokerage Hub announced the acquisition Friday. Jaimac is an independent insurance brokerage specializing in risk management and credit insurance for companies with unique risk-mitigation needs.
Jaimac president Paul Turner and the Jaimac team will join Hub Ontario, the large brokerage said in a press release.
Turner founded Jaimac in 2005. “Most brokerages view credit insurance as an add-on to their core product offering,” Jaimac said on its website. “Credit and political risk insurance is our only line of business.”
The company offers tailored portfolio structuring, risk mitigation and debt resolution.
In effect, credit insurance protects a seller when a buyer (the customer) cannot pay. Non-payment can be…