HOSPITALITY

Experience

 

• Hotel Ownership and Management

• Casinos, Inns and Resorts

• Casual and Upscale Dining Establishments

• Clubs and Recreational Facilities, Resorts and Associations

• Theaters and Entertainment Establishments

• Travel Services and Tour Companies

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Services

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• Insurance Audits: We provide comprehensive reviews of insurance programs for adequacy of coverage and reasonableness of terms and conditions, based upon our assessment of exposures to loss and each client's appetite for risk-assumption. In developing our recommendations, we consider the coverage maintained by comparable hospitality clients. We examine policy limits, deductibles/retention levels, breadth of coverage including detailed policy terms, conditions and exclusions, reasonableness of premiums, and identify major coverage gaps.

• In assessing limits, we assist our hospitality clients in understanding and quantifying catastrophic loss potential. The gathering of large numbers of the public in a hotel, restaurant, casino or resort facility constitutes the potential for extremely large risks. We assist our clients in assessing risk exposures in order to inform their insurance purchasing decisions. Often this involves evaluation of historical loss experience, both for the client and within the industry.

• We help our clients navigate the commercial insurance market. The quality of the market resources available to a client will depend on the underwriting characteristics of the business. Hospitality companies that maintain strong policies of loss control, safety, accident/illness response, contract risk transfer and operational best practices will benefit the most. We help our clients effectively tell their story in order to achieve the best result.

• Additionally, we bring market knowledge to the benefit of clients. The insurance market includes several programs and risk purchasing groups that are dedicated to this industry segment. These programs can be an efficient means of transferring insurable risk, but it is important that insurance terms be carefully examined and scrutinized. Many of these “program placements” are inflexible. We help our clients understand and assess the pros/cons of these programs, including shared aggregate/occurrence limits.

• Ongoing Assistance: We serve in a variety of functions depending on clients’ needs. This usually includes annual policy reviews and insurance renewal negotiation assistance.

• Contract Assistance: We evaluate insurance compliance and contractual risk transfer to vendors and service-providers.

• Broker Selection: We evaluate the services provided by the client’s insurance brokers and, when appropriate, conduct a broker RFP process aimed at selecting an insurance broker with the qualifications, experience, skills, and service reputation that best fits our client’s needs.

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