A year-round insurance and risk-management partnership built around clarity, competition, protection, and long-term flexibility.
Industrial Source has spent more than eighty years building a business defined by local ownership, technical expertise, operational discipline, and service to customers across Oregon.
Our responsibility is to make sure the insurance program reflects those same qualities.
During the 2026 insurance process, Team Haugen worked to help carriers understand the full Industrial Source story, create meaningful market competition, evaluate the available program structures, and develop a recommendation based on the company's current needs and long-term direction.
This review documents the work completed, the decisions evaluated, and the priorities we will continue advancing together.
Founded in Eugene in 1945, Industrial Source is Oregon's largest independent and longest-running gas and welding supply company, serving customers across manufacturing, metal fabrication, construction, healthcare, aerospace, energy, food and beverage, and government.
Bulk and microbulk systems, specialty and medical gases, and dry ice, filled and delivered under company control.
Welding supply, safety products, equipment rental, and customer inventory solutions across every location.
Company-managed delivery, cylinder tracking and testing, and in-house repair and requalification.
A strong insurance result begins well before carriers provide their final numbers. For 2026, Team Haugen ran a structured process built to improve how the market understood Industrial Source and to create leverage through the negotiation.
The company story, insurance information, controls, certifications, fleet information, safety documentation, and loss history were brought together in one place.
A private website helped carriers understand Industrial Source before evaluating price and terms.
Discussions were structured around the company’s actual operation and controls rather than paperwork alone.
Traditional insurance at multiple deductible levels was reviewed alongside captive alternatives.
Pricing, risk transfer, cash flow, capital flexibility, coverage stability, and long-term plans were all weighed.
Industrial Source has operational qualities that insurance applications alone cannot communicate. The dedicated presentation gave carriers a clearer view of ownership, operations, fleet, safety culture, cylinder-management systems, quality controls, and certifications, moving conversations toward the specific controls that distinguish the operation.
Carriers writing products liability weigh how purity and quality are controlled. Industrial Source verifies purity through an ISO/IEC 17025:2017 accredited specialty-gas laboratory, PurityPlus certification, and documented food and medical-grade protocols with full chain of custody.
Cylinder integrity sits behind much of the exposure in this class. Advanced Cylinder Management barcodes and tracks each cylinder end to end, with in-house testing and requalification and centralized accountability for age and last-test status.
Fire and workplace exposure are addressed through gas-handling and welding training, hot-work permitting, fire protection and ventilation, gas-leak monitoring, and documented incident and near-miss practices, supported by HUB Risk Services.
Auto is the leading distribution exposure. Company-managed bulk and microbulk delivery, driver qualification with MVR and hazmat verification, and pre-trip and post-trip inspections keep the operational risk inside the business.
The 2026 strategy came from comparing the viable ways Industrial Source could finance and transfer risk, judged on more than premium alone.
A difficult year sits with the carrier, not the company balance sheet.
The program cost is known going into the year.
No additional capital or collateral is tied up to support retained losses.
Capital stays free to deploy into the business and to pursue opportunities.
Protection is in force with a straightforward program to administer.
The company and the group retain and finance more of their own risk.
Strong, sustained loss experience can be returned over time.
Funding losses and posting collateral tie up capital and can constrain borrowing.
Committed capital is capital that cannot be deployed elsewhere as opportunities arise.
Results vary year to year, and the economics reward a multi-year horizon.
The traditional market provided the strongest current combination of competitive pricing, risk transfer, program stability, financial strength, and flexibility. It let Industrial Source transfer significant risk to its carriers without committing additional capital or collateral to a captive, and it preserved the ability to deploy capital elsewhere and revisit alternatives when the economics become more compelling.
The recommended carrier team presented during the review included Chubb and Amwins. This remains a recommendation until the final placement is confirmed.
The decision reflects current facts, not a permanent position. Team Haugen will keep evaluating captive economics as they evolve. A hardening traditional market, higher premium volume, loss results that support greater retained risk, meaningful multi-year captive economics, more favorable capital requirements, or a captive group and governance structure that meets Industrial Source's standards would each reopen the analysis.
Program design is not only about how much limit is purchased. It is also about how that limit responds when a serious loss occurs. The 2026 review compared separate liability towers for Eugene Welders and National Fire against a combined structure shared by both entities.
Recommended: separate towers
Eugene Welders
$11M total tower
National Fire
$11M total tower
Alternative: shared tower
$21M shared tower
The goal is not simply to purchase more limit. It is to purchase limit in the structure that best protects both companies.
Under the separate structure, each entity keeps its own primary protection and its own $10 million umbrella tower. A major loss involving one entity does not reduce the limits available to the other. Team Haugen recommended maintaining that separation. Limits shown are subject to final confirmation.
The value of stewardship is measured by the work completed. Financial results, claims outcomes, and service metrics are added to this record as they are confirmed.
This record is updated throughout the policy year as items are confirmed.
Industrial Source is supported by a coordinated advisory, account-management, legal, and claims team. Team Haugen provides local leadership and accountability from Eugene, backed by HUB International's carrier relationships, technical resources, and claims capabilities.
Relationship lead, strategy, and market negotiation.
Senior commercial strategy.
Account strategy and renewal coordination.
Account strategy and client support.
Contract review, insurance requirements, and risk-transfer guidance.
Day-to-day account service.
Day-to-day account service.
Day-to-day account service.
Claims advocacy and resolution.
Claims advocacy and resolution.
Claims support.
Executive sponsor for the relationship.
The program should not be addressed only in the weeks before renewal.
Our stewardship model keeps visibility through the year, addresses issues early, and enters each renewal with a strategy already in motion. The quarters below set the cadence.
Confirm policies, schedules, limits, deductibles, named insureds, subjectivities, claims procedures, certificates, policy access, and open service items.
Review open claims and trends, coordinate advocacy, review loss-control recommendations, confirm corrective actions, and update fleet, property, and operations data.
Review operational changes, purchases, locations, vehicles, contracts, deductibles, market conditions, values, captive economics, and the renewal narrative.
Finalize exposure data, update the underwriting presentation, engage carriers, compare price and terms, and deliver the renewal recommendation.
The value of the program shows up in the work completed through the year. These commitments set clear accountability across Property and Casualty and Employee Benefits.
Review the new operation, confirm coverage needs, coordinate with carriers, and prepare a price sheet showing the incremental insurance cost.
Compare prior-year and current-year premiums, exposure changes, deductibles, limits, and key cost drivers by coverage line.
Review vehicles, driver controls, MVR and qualification procedures, loss activity, fleet safety practices, and insurance cost per vehicle.
Review open claims, reserves, litigation, loss trends, closure opportunities, and matters requiring HUB Claims Advocacy or carrier escalation.
Inspect the primary facilities before year-end, target at least one additional location, and establish a rotating multi-site review schedule.
Issue written reports, prioritize recommendations, assign responsibility, and track corrective actions through completion.
Evaluate an Employee Benefits captive based on company size, claims experience, risk tolerance, funding requirements, and potential long-term savings.
Compare fully insured, level-funded, self-funded, and captive alternatives, including employer cost, employee cost, and financial risk.
Set renewal objectives, review plan performance and participation, evaluate alternatives, and present recommendations before decisions are required.
The responsible HUB owner and target date for each commitment are confirmed with the team before this record is finalized. Completed commitments remain in the record so the stewardship history stays visible.
Industrial Source has earned its reputation through consistency, accountability, technical expertise, and a long-term commitment to its customers and communities.
Team Haugen's commitment is to bring that same level of preparation and accountability to the insurance relationship. That means representing the Industrial Source story accurately, keeping carriers competing, challenging the program structure when better options become available, supporting the company when claims occur, and maintaining a clear plan throughout the year.
Thank you for the opportunity to support Industrial Source. We look forward to continuing to earn your trust through the work we complete together.