Expert Risk Management
Hotels, casinos, restaurants, resorts and other hospitality properties are susceptible to significant claim activity simply because your workers engage in injury-prone activities such as housekeeping, food and beverage, and maintenance. You need thoughtful pre- and post-loss strategies to reduce expenses and address issues such as:
Some of our biggest hotel management companies and real estate investment trusts depend on HIFS. Our team provides the resources you need to connect your business goals to your risk management and employee benefits strategies.
With the intense financial pressures of the industry, improving safety and reducing claims costs helps make your business better. Lockton’s risk management and claims cost control specialists will guide you. And we stay on top of the industry’s ever-changing risk issues through our involvement in leading industry groups.
- Medical cost containment
- Claim expense controls
- Lag reporting practices
- Hospitality ergonomics
- Improved employee selection and on-boarding
Common risk events to insure your business against:
- Fire, water, or storm damage to your building and/or contents
- Business interruption – a fire may limit your ability to operate at normal capacity causing loss of income and an inability to pay your employees
- Theft of contents
- Spoilage and loss of all your frozen food – a power surge could easily burn out the motor in your freezer and see thousands of dollars of stock lost.
- Injury of a customer on your premises – you could be liable for significant damages if uninsured.
- Theft of customer credit card details – as a hotel, you may store credit card details. If your system is hacked and sensitive information stolen by cyber criminals, you could be issued with significant fines and penalties.
We will work in close partnership with you to understand the unique inner workings of your business, seeking to generate solutions that gives your future greater certainty.
Areas of specialisation:
- Bed and Breakfast
- Boarding houses
- Cafes and Restaurants
- Take away food
- Self-contained units
- Separate suites with breakfast provisions
- Farm stays
- Establishments with restaurants and vineyards
We specialize in hospitality risk management and insurance coverage, including:
- Building a cost-effective property insurance program, especially in catastrophe prone regions around the world
- Structuring business interruption and contingent business interruption programs to help protect your income flow when a storm, strike, flood or other risk turns away guests
- Developing effective programs to reduce employment practices liability and mitigate claims
- Handling the unique coverages for hospitality providers, including garage keepers liability, innkeeper liability, liquor liability, golf course, day care, marina, and security hazards
- Managing executive risks for real estate investment trusts and others
Why should I contact HIFS?
At HIFS we have leveraged our networks, strong relationships, and our depth of knowledge in this space to customise insurance solutions for your needs.
- Industry qualified and experienced team
- Access to leading insurers and specialist insurers ensuring quality covers
- Competitive premiums
- Flexible payment options
- Professional insurance review and free no obligation quotations
As experts in this area of insurance, we work closely with our clients to understand their unique needs. We approach insurance companies on your behalf to get a range of coverage and pricing options. We compare these options and present our recommendations to you. We then secure the insurance that you select and review it with you annually.