Hub International lays claim to MN-based crop insurance agency

Insurance Business America | April 08, 2019

Hub International lays claim to MN-based crop insurance agency
Hub International’s M&A push does not appear to be slowing down, as the multinational insurance broker acquires yet another insurance agency. This time, Hub has purchased Corey Steinbach Insurance Agency, a full-service firm in Felton, MN that specializes in crop insurance. Terms of the transaction were not disclosed. A release explained that Corey Steinbach’s focus on the agribusiness industry supports Hub’s specialty practices. As part of the deal, Corey Steinbach Insurance Agency owner Corey Steinbach will join Hub Mountain. This is not the first time Hub has acquired a crop-focused insurer; in 2018, the broker snapped up the Idaho-based Harman Agency. Like Corey Steinbach Insurance Agency, Harman was selected to bolster Hub’s specialty practices.

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Technology is evolving rapidly and disrupting the way business processes are handled. Emerging technologies are transforming every aspect of the insurance business and property and casualty insurers are adjusting by adapting InsurTech capabilities.