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Here is a possible scenario:
Brice is unemployed but actively seeking work. He is willing to relocate and recently flew to Boise, Idaho for a second interview. He stayed at a local franchised motel so that he could be fresh for the interview early in the morning. The interview went well and he returned to his motel to pack before returning home. He decided to take a quick swim before leaving. While getting out of the pool, he slipped and injured his back. Even though he was in considerable pain, he declined the motel’s offer for medical treatment because he was more concerned about catching his plane home.
Upon returning home, he visited his doctor, who recommended an MRI and other tests to determine the extent of his injuries. Brice agrees and undergoes a number of tests over the next week that reveal severe back trauma. Brice also learns that he did not receive the job he interviewed for in Boise.
Brice cannot continue his job search and is racking up significant medical bills. When he sees advertisements from personal injury attorneys, he makes a phone call. In almost no time at all, the attorney notifies the motel of Brice’s serious injuries and their expectation of compensation. |
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The marketplace for the lodging industry is vibrant. Scottsdale, Colony, Markel, Admiral, USLI, Rockhill, Burlington, Indian Harbor, American Empire Surplus Lines, Travelers, Chubb, Founders, James River, Aspen, First Mercury, Emerald, Western World, Penn American and Arch are just a few of many companies providing coverage.
Michelle Collins, senior broker/underwriter at London American Risk Specialists, Inc., observes, “Our experience shows it is tougher to find carriers willing to write package policies rather than monoline policies, due to the property exposures. They are more comfortable with the GL side than the property.” However, she does have three markets that provide package coverage.
Jim O’Neill, director of marketing at New Empire Group, notes the segmenting of the market by explaining, “Multiple carriers are writing various lines for hotels and motels from primary programs, coastal programs, and excess liability and umbrella programs.
“Travelers has an appetite for hotels, motels, and bed and breakfast operations, including full, limited, and extended stay facilities, as well as hotel convention and conference centers.” explains John O’Connor, vice president product and underwriting of Travelers Select Accounts.
According to Marla Donovan, CPCU, vice president of product development at Burns & Wilcox, both admitted and nonadmitted paper is available. She explains, “When the market hardened in 2002, it was mostly nonadmitted carriers. As the market progressively softened over the next 6+ years, standard carriers were increasingly willing to write this class. In the first half of 2009, we have seen some tightening of underwriting risk selection on the part of some standard markets.“
All of the markets at AmWINS Group are nonadmitted, according to Paul Rovelli, vice president at AmWINS Brokerage of New York, but he says, “There are options on admitted paper either directly to retailers or through programs.”
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