We have insured hotels for over 20 years, and we have developed a keen insight into this industry. For the most part hotels need the same property and liability insurance coverage as any other business. There is a building to be insured, and there is the liability exposure should a guest slip and fall by the poolside, for example.
However the need for unique and specialized coverage increases with the size of the hotel, the franchise flag it carries, and based on the amenities and types of facilities it offers. Exposure to natural disasters also creates unique insurance challenges based on geographic location. A full service Crowne Plaza hotel will have broader insurance requirements (airport shuttle, bar, gym, entertainment etc.) than a roadside Motel 6. This often times requires that we custom build a coverage portfolio. On one hand, we may have to put together several stand alone policies issued by multiple carriers, and on the other we may have to negotiate special terms and coverage modifications with underwriters. Properly insuring against wind and hail in Kansas is just as challenging as addressing landslide exposure in the hills of the Pacific Northwest. Often times we have to bring in the expertise and experience of Lloyds of London to address such large exposures.
We consider ourselves a one-stop shop for all hotel related coverage, and we are equipped to handle franchise, lender, and regulatory requirements.