If you’re relying on a generic commercial general liability insurance policy to cover your hotel business, oh, the gaps you’ve created. Oh sure, the general liability policy is going to cover your building and grounds, but it doesn’t begin to address the specific risks that hotels face. And while many general liability policies give you additional coverages that are useful – such as employer’s liability coverage – it falls far short of giving your hotel business the comprehensive protection that a hotel insurance policy would give you.

  Read the rest of this entry »

Continue reading...Comments (0)

Hard to imagine how botox could become a risk to your hotel business, but if a spa operating on your hotel premises is selling botox treatments to your guests, beware. Most hoteliers don’t often connect the dots between their hotel business and the businesses of those vendors who have set up shop on hotel property. But botox, laser treatments, even nail salons doing business independent of your hotel business pose an exposure to lawsuits to your hotel.

With more amenities being heaped on guests and more hotels eager to partner with guest service providers in an attempt to woo said guests, the risks of such partnerships are often overlooked. Service providers such as spas, hair salons, personal trainers, medical services come with their own sets of risks, including the risk to the health and safety of your guests. Consider that if your hotel brochures or in-room promotions of either your establishment or that of the vendors is presented to your guests as additional services, you face liability for nearly any claim waged against the vendors.

  Read the rest of this entry »

Continue reading...Comments (0)

No one needs to tell you the changing nature of the hotel industry. Between government regulatory change and health and safety issues, it’s all you can do to stay ahead of an evolving, growing industry. So how do you think that hotel insurance policy package you bought is doing?

 If it’s been more than a few years since you purchased your hotel insurance package, it’s almost a given that something in your current business practices is not covered by that insurance package. But how can you know? Read the rest of this entry »

Continue reading...Comments (0)

Flickr photo credit: Quiplash!

Let’s just say when it comes to swine flu (or the more politically correct term, H1N1), the nation, so far, has dodged a rather large, frightening bullet. True, the strain that seems to have hit this country was mild in comparison to neighboring Mexico, there were still deaths, still travel advisories, and still the looming threat that this pandemic could evolve to catastrophic proportions.

As hoteliers, many of us weren’t ready for it. That’s not to say we weren’t covered for the lack of occupancy – we’d not be very good at our jobs if we didn’t mitigate the loss in traveler dollars. But were we prepared – are we prepared – for handling a pandemic within our own establishments?

While we did have our risk controls in place for such outbreaks as Legionnaire’s disease (you did do that much, didn’t you?), our readiness for a pandemic that could strip our occupancy levels to zero was pretty lame. As with any loss, the risk lies in our lack of planning for it. Thanks to Legionnaire’s disease, many hotels have controls in place to handle such pandemics from an occupancy standpoint. But the further from the events we are, the more lax we become in our oversight. Most of us who remember the first Legionnaire’s outbreak (1976) don’t realize the most recent confirmed outbreak was 2002 in the UK. Read the rest of this entry »

Continue reading...Comments (0)

Flickr photo credit: Despotes

To own a hotel is to worry – if you’re worried about a risk, let us know – it may be insurable.

1.  Read your policies, paying attention to the limits, conditions, and exclusions. If you have questions or concerns, let us know.

2.  Liability limits can be increased – if you’re concerned, let us know.

3.  Commercial General Liability (even with an Umbrella) doesn’t cover all types of claims. If you’d like to discuss Employment Practices Liability, Directors & Officers Liability, Fiduciary (ERISA) Liability, Professional Liability, International Liability, Cyber-Liability or other types of protection, let us know.

4.  Selecting adequate Property insurance limits is your responsibility – if you underinsure, there can be coinsurance penalties and/or you’ll come up short after a serious loss. Replacement Cost requirements have nothing to do with Market Value or Book Value – what would your building(s) and contents cost to replace, brand new, if destroyed?

5.  Studies show that even with adequate limits on buildings and contents, businesses that don’t have enough “Business Income Insurance” fail within three years almost 50% of the time. If you’re concerned, let us know.

6.  We need to be told when or before there are changes to your business operations, locations, products handled or services delivered.

7.  With few exceptions, Workers Compensation is required by law for all businesses. If you don’t have it insured somewhere, let us know.

8.  Property insurance policies don’t cover all perils. If you’re concerned (for example) about Flood, Earthquake, or Equipment Breakdown, let us know.

9.  Do you have any (or enough) Crime insurance? If you’re not sure, let us know.

10. Do any of your business contracts contain insurance requirements? If so, let us know.

Continue reading...Comments (0)