As a hotel association, you are responsible not only for your hotel and employees, but for the safety of your hotel’s guests. With the vast number of employees guests, property, and data that hotels have on their premises, it is crucial for resort hotel associations to protect themselves with the proper insurance coverage. At Kevin Davis Insurance Services, we specialize in insuring community associations and protecting associations and their board members from the array of unique risks they face. Here is a selection of some of the many types of coverage we offer for resort hotel associations.
Directors & Officers Liability Insurance
With the variety of workers and guests and exposures that hotels are privy to, hotel associations are at risk of claims of wrongful act, which is why it is important for them to have Directors & Officers Liability insurance. Our D&O coverage ensures that all members of the association will be protected under a broad definition of “claim”, provides coverage for legal costs, and will also include coverage for independents who may not be technically board members who were acting as a member of the board. This means that the hotel association’s builders, developers, and other similar contractors will be covered under our D&O insurance, which will better protect the association.
Crime Insurance
With the large number of third parties coming in and out of hotels, hotel associations should protect themselves from losses with Crime Insurance. In addition to physical theft, hotel associations are also vulnerable to electronic breaches such as counterfeit, embezzlement, check tampering, and more. Our Crime policy covers a wide range of breaches from employee dishonesty to guest-related crime such as forgery, robbery within the premises, computer fraud, and funds transfer fraud.
Excess Liability Insurance
Unfortunately, hotel associations are at risk of catastrophic loss from unforeseen disasters, such as guests being injured or dying on the premises or severe property damage from a large-scale disaster (such as a fire). In these types of incidents, the hotel association’s general liability insurance will likely not cover the full extent of the catastrophe, making Commercial Excess Liability Insurance a necessity. When creating an excess policy for our clients, we extend coverage for most D&O policies as well as certain Employment Practices Liability policies, with limits up to $50,000,000 available and for high-rise buildings upon referral.
Cyber Liability Insurance
As hotels have a wealth of personal guest information stored electronically, they are a very attractive target to hackers. This creates a huge liability exposure for the hotel association, as a breach could lead to countless guests’ credit card information, bank account numbers, Social Security numbers, and other pieces of personal data being stolen or released, which could in turn lead to lawsuits against the association. A Cyber Liability policy is a necessity in this digital age, particularly for associations with a high volume of sensitive data like hotel associations. Our cyber coverage will help associations recover from security breaches with coverages for credit monitoring, defense from third-party (such as hotel guest) claims, crisis management, public relations, cyber extortion, and more.
Workers’ Compensation
Consider everything that goes into creating a great hotel stay for your guests. Workers need to prepare and serve food, keep the hotel clean, and attend to the guests’ other needs. If you have high rates of employee absenteeism or large numbers of employees, your hotel’s operations could be drastically slowed down, causing inconvenience at best and danger for your guests and remaining employees at worst. It is crucial that a hotel association have Workers’ Compensation coverage to protect their employees and ensure that if an injury or illness does occur, they are able to be quickly taken care of to return to work.