Structure A
Lower retention
The carrier holds more of the risk. Higher premium, most predictable cost.
PremiumHigh
Retained riskLow
Cash-flow variabilityLow
Your HUB team · HUB International · Program review
Obie Companies
A program review of hotels and commercial real estate
Built for Obie Companies
Prepared for the leadership of Obie Companies ahead of the broker decision. What we read, what we found, and how we would run the next placement.
Prepared October 2026 · Eugene, Oregon
What we found
Why your HUB team
We have already read the full program, so we know where it stands today. From here, the work is making it one program on one renewal date, so insurance becomes something Obie handles once a year rather than manages all year. The headlines from our review are below.
Lead producers
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Review
We read every policy
Seven policies and four endorsements, read against each other, not one at a time.
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Tower
Two renewal dates
Excess layers renew in January over a primary program that renews in March.
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Hospitality
Abuse limit stops at $1M
One limit, defense included, with exclusions at both layers above it.
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Residential
Gordon Lofts sits lower
Outside the excess tower, at roughly a quarter of the portfolio's liability limits.
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Property
Earthquake is shared
One $5M limit across four hotels at a 10% deductible.
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Start
One clean schedule
Every entity, every location, and the policy that answers for it.
Appoint HUB as broker of record and we start the program review the same week.
The work behind it
How we would run the placement
The same disciplined path on every account, applied to Obie from the day the broker of record letter is signed.
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01
Program review
Every policy, endorsement and lender requirement read against the entity and location schedule.
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02
One schedule
Entities, locations, values and operations reconciled into a single source the market can underwrite.
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03
Underwriting page
Obie's hotels and properties presented to carriers before the first submission goes out.
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04
Market plan
Lines, layers and renewal dates agreed with ownership before any carrier is approached.
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05
Recommendation
Options compared and narrowed to one recommendation, with the trade-offs in writing.
Provisional broker review
Commercial Insurance Coverage Review
Provisional review. October 14, 2026.
Executive assessment
The supplied program represents substantial property and liability insurance, with multiple carriers, several operating entities, a hospitality exposure, and significant insured real estate values.
The first priority is reconciling the excess liability tower. Chubb's January 1 excess policy identifies a $5 million Union Insurance Company umbrella as controlling underlying insurance. A separate Fireman's Fund umbrella begins March 1. These policies cannot automatically be treated as one uninterrupted, coordinated liability tower.
This is a material clarification, not a confirmed coverage lapse. Written confirmation of the underlying-policy change and Chubb's acceptance is necessary before representing the full limits as available.
Consolidated coverage dashboard
The principal limits extracted from the issued documents are:
| Coverage | Carrier | Principal limits |
|---|---|---|
| Property | Fireman's Fund | $189.33M building blanket; additional scheduled property limits |
| Business income / extra expense | Fireman's Fund | $34.29M blanket plus scheduled limits |
| Earth movement | Fireman's Fund | $5M event/aggregate at specified locations |
| Equipment breakdown | Fireman's Fund | Applicable property/BI limits; extensions have sublimits |
| Mobile equipment | Fireman's Fund | $50K unscheduled; $200K leased/rented |
| Data compromise | Fireman's Fund | $50K aggregate |
| General liability | Fireman's Fund | $1M occurrence / $2M aggregate |
| Liquor liability | Fireman's Fund | $1M common cause / $2M aggregate |
| Employee benefits E&O | Fireman's Fund | $1M employee / $2M aggregate |
| Automobile liability | Arch | $1M combined single limit |
| Garagekeepers | Arch | $100K comprehensive and collision at each of four sites |
| Umbrella | Fireman's Fund | $5M occurrence / aggregate |
| Excess liability | Chubb / Federal | $5M excess of scheduled Union $5M |
| Employment practices | Chubb / Federal | $1M aggregate; generally $25K retention |
| Crime | Chubb / Federal | $500K principal coverages; social engineering sublimits |
| Crime | Fireman's Fund | Generally $25K; smaller outside-premises limit |
These are contractual limits, not necessarily additive amounts. Coverage, attachment, aggregates, exclusions and policy periods must be verified before presenting a combined total.
Most consequential additional findings
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Chubb specifically excludes "The Gordon Lofts" in form 07-02-2222, PDF page 45. The March package identifies Gordon Lofts among the insured properties. This documents an exclusion in Chubb's excess layer, not proof that every other excess policy excludes it.
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The Chubb excess form excludes construction, development, maintenance and renovation. The Fireman's Fund primary GL and umbrella contain construction restrictions but distinguish regular maintenance and tenant improvements. These differences need evaluation against Obie's actual work and any subcontracting. Sources: Chubb PDF pp.47 to 48; Fireman's Fund package p.206; umbrella p.61.
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Both Fireman's Fund primary GL and umbrella contain cross-suits exclusions applying to claims between insureds. With numerous scheduled legal entities, intercompany agreements and leases are important to evaluate. Sources: package p.205; umbrella p.47.
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The property declarations show a $5 million event/annual aggregate for earth movement at locations 2, 26, 27 and 29, subject to a 10% property deductible, minimum $100,000, and a 336-hour time-element deductible. The insured values and recovery assumptions should be tested against these limitations. Source: package PDF p.30, Property-Gard declarations PR 4 of 8.
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The primary GL declarations show $100,000 for damage to premises rented to the insured, while the umbrella's primary schedule lists $1 million. This creates a potential attachment discrepancy requiring a carrier response, rather than an automatic conclusion that the difference is uninsured.
Additional policies requiring verification
The insurance breakdown workbook also identifies a Travelers $10 million excess layer, cyber, separate EPL, flood, earthquake and Elmers property placements. The associated issued policies were not supplied. Workers compensation and employers liability also remain unverified from the supplied materials.
Suggested meeting focus
I would prioritize obtaining the issued underlying-change endorsement for Chubb, the Travelers excess policy, and the complete location and entity schedule. Then review actual construction activities, the group's intercompany relationships, earthquake loss exposure, and valet vehicle concentrations.
Review limitationAll nine PDFs, totaling 667 pages, were indexed, and the relevant declarations, schedules and key operative clauses were reviewed. This is a provisional, evidence-based broker meeting review, not a completed clause-by-clause policy audit or coverage determination.
Reading the market
Market conditions
The insurance market moves in cycles, and conditions vary by line and by account. Property may be soft right now while general liability runs firm. Until the carriers come back with real terms, the honest read is in the middle.
A mixed market. Some lines firm while others ease, and carrier appetite shifts by class and by account. Outcomes depend on the specific line and how the risk is presented. This is where Obie's lines sit today.
Carriers tighten. Rates rise, capacity contracts, underwriting gets stricter, and terms narrow. Accounts compete on how well they present their risk.A mixed market. Some lines firm while others ease, and carrier appetite shifts by class and by account. Outcomes depend on the specific line and how the risk is presented. This is where Obie's lines sit today.Carriers compete for business. Rates ease, capacity is ample, terms broaden, and buyers have more options and leverage.-
01
Conditions vary by line
Property, catastrophe and habitational liability each move on their own cycle, so a program is only as strong as how its specific exposures are presented.
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02
Habitational liability draws attention
Hotels and multifamily get a closer underwriting look on abuse, liquor and guest exposures. The program that explains its controls competes better.
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03
Presentation drives the outcome
The difference between accounts is how well the risk is documented and told. That is the work we do before the first submission.
The work does not stop
Looking ahead
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01
We monitor the market
So a turn in the cycle never catches Obie off guard.
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02
We revisit retention
Against the actual loss trend, not a one-time assumption.
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03
We keep carriers competing
Competition is not a one-time event. It is how every renewal stays sharp.
What the documents show
Five questions worth answering before the next renewal
Drawn directly from the policies Obie shared with us. Each one is a conversation, not a conclusion.
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Your excess layers renew in January and the program beneath them renews in March. We would confirm every layer recognizes the March 2026 umbrella and then bring all of it onto one date.
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For four hotels and a residential building, this protection is a single $1M limit that also pays defense, with nothing above it.
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The apartment building sits outside the excess layers, at roughly a quarter of the liability limits the rest of the portfolio carries.
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Every liability layer excludes construction, and the first excess extends that to maintenance and renovation. We would map where that work is and is not covered.
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The four hotels share one $5M limit. We would set it next to each hotel's replacement value so ownership can choose what to carry.
Every lever on the table
The structures we would model
We would model Obie's program at more than one retention level so ownership sees the trade-offs, not a single quote. The figures come from the live proposal once we are in the market.
Structure B
Moderate retention
A measured amount of retained risk in exchange for meaningful premium savings.
PremiumMedium
Retained riskMedium
Cash-flow variabilityMedium
Structure C
Higher retention
Lowest premium, more variability. Strongest when losses stay low.
PremiumLow
Retained riskHigh
Cash-flow variabilityHigh
FiguresSpecific premiums, limits and retentions are reviewed live from the proposal.
Where we would start
A full program review, delivered before the January layers renew.
The first ninety days, in order.
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01
Program review
Every current policy read against lender requirements and the entity schedule.
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02
Tower check
Written confirmation that each excess layer recognizes the current underlying program.
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03
Hospitality limits
Abuse and molestation, liquor and garagekeepers priced as options, not assumed.
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04
Values and earthquake
A statement of values by building, set against the earthquake limit and deductible.
In writing
Four commitments, each with a name on it
What we commit to from the day we are appointed.
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01
Nothing goes to market without your approval
The market plan is agreed with ownership before a single submission goes out.
OwnerLogan Haugen and Corey Dixon
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02
One schedule, kept current
Entities, locations and values maintained as one document and updated with every change.
OwnerLogan Haugen and Corey Dixon
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03
Every finding tracked to close
Each item from the program review written down, owned and carried until it is resolved.
OwnerLogan Haugen and Corey Dixon
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04
Renewal opens 120 days out
Strategy meeting at least 120 days before each renewal date.
OwnerLogan Haugen and Corey Dixon
Your HUB Team
Overview
Each person owns a piece of the account and answers for it directly.
Lead producer
Corey Dixon
Senior Vice President, Commercial Lines Producer
Lead producer
Logan Haugen
Team Haugen Lead
Senior Vice President, Commercial Lines Producer
Logan and Corey are the leads on this account, both accountable for the end-to-end Obie program and the carrier relationships.
Hayden Haugen
Associate Advisor, Commercial Lines
Spencer Haugen
Associate Advisor, Commercial Lines
The full HUB team
HUB Leaders
Bonds
Workers' Compensation
Personal Lines
HUB Brokers
Claims | Risk Management
Account Managers
Obie's own underwriting site is being built
We look forward to presenting it to you during our next meeting.
We look forward to working with your team.
Thank you for taking the time to discuss. The team behind this review is here to answer any of your questions. We look forward to the next steps.