Company Website:
http://www.acegroup.com/us
PHILADELPHIA -- (Business Wire)
With the holiday season approaching, the hospitality industry is
preparing itself for more patrons, as long-distance travel is expected
to increase by more than half during this holiday season, according to
U.S. Department of Transportation data1. ACE
Group today released a new advisory that examines a unique set of
exposures faced by owners and operators of hotels, motels, resorts and
casinos. The paper also provides guidance on how to ensure a
comprehensive risk management strategy, with the appropriate level of
primary and excess insurance coverage, in order for the hospitality
industry to meet these current challenges.
“Hospitality
Risks: Keeping Pace with Emerging Exposures,” was co-authored by
Joseph Fobert, Senior Vice President, ACE Excess Casualty, and Brooks W.
Chase, President, National Specialty Underwriters Hospitality. This
advisory is the latest installment in ACE’s series of insurance and risk
management perspectives for risk managers.
“As regulations and trends change, owners and managers of hospitality
properties constantly face a number of liability risks, and even
familiar exposures may present heightened challenges,” observed Mr.
Fobert. “It is important for hospitality owners to review their primary
and excess insurance coverage and develop a proactive, comprehensive
risk management strategy in order to protect customers as well as their
business and reputation.”
The emerging exposures examined in the ACE advisory include the
following risks, among others:
- Food-Borne Illness
- Indoor air quality
- Liquor liability
- Transportation access for disabled customers
- Cyber security
To read the full advisory, click
here.
ACE
Excess Casualty offers enhanced coverage options for hospitality and
real estate clients in the form of robust, easy-to-use endorsements for
ACE Umbrella policies. ACE has the underwriting and claims management
specialists to provide tailored solutions for these specialized industry
segments. The material presented in this report is not intended to
provide legal or other expert advice. It is presented for informational
use only. Readers should consult legal counsel or other technical
experts, as applicable, to answer any specific questions they may have.
1United States Department of Transportation. U.S. Holiday
Travel http://www.rita.dot.gov/bts/sites/rita.dot.gov.bts/files/publications/america_on_the_go/us_holiday_travel/html/entire.html
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance, and life insurance to a
diverse group of clients. ACE Limited, the parent company of ACE Group,
is listed on the New York Stock Exchange (NYSE: ACE) and is a component
of the S&P 500 index. Additional information can be found at www.acegroup.com,
or follow ACE on Twitter, https://twitter.com/ACEGroupNA.
Contacts:
ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com
Source: ACE Group
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