Monthly Archives: January 2015

Hospitality Industry Legal Update: “House Passes Terrorism Insurance Bill”

“Already, companies are having trouble getting terrorism insurance, and many companies that had terrorism insurance have now lost it because thereJ_Mq7AKo were clauses written into their policies that said if TRIA is not there, they do not have the insurance coverage,” said Rep. Carolyn Maloney (D-N.Y.).

The House voted to reauthorize the Terrorism Risk Insurance Act (TRIA) on Wednesday, sending the legislation to the Senate.

The measure passed overwhelmingly by a vote of 416-5, with one lawmaker voting present.

Lawmakers failed to reauthorize the program during the last Congress, and it expired on Dec. 31, leading to uncertainty in the business community.

For more: http://bit.ly/142RaaB

 

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Filed under Crime, Hotel Industry, Insurance, Management And Ownership, Risk Management

Hospitality Industry Technology Update: “Going mobile: The tipping point is close”

Ed Higgins, vice president of Thousand Islands Insurance Agency in Clayton, N.Y., and vice chair at the Applied Client Network, says he believes that independent agents are missing out on the opportunity that mobile apps provide…businessman-w-laptop-apps-169-crop-600x338Thousand Islands Agency was an early adopter of the MobileProducer, the mobile-app version of Applied System’s agency management platform. For Higgins, the key benefit of the app is the ability to deliver what he calls the “Starbucks experience” for customers.

Four years ago, Apple trademarked the phrase, “There’s an app for that.” With more than 1.2 million offerings in the iTunes App Store—and about 1.4 million in Google Play—it would seem that the phrase is more true than not. However, only a few general-market agent productivity apps exist, and none have more than a few reviews from users.

“It’s a relatively small number of agents who are using insurance-specific apps today,” says Chad Hersh, senior vice president at The Nolan Co., an insurance management consulting firm. “Granted, a lot of agents use general apps on their mobile devices to the extent that many people do in their daily lives and jobs, but the penetration just isn’t there for insurance apps for agents.”

For more: http://bit.ly/14oxiiB

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Filed under Hotel Industry, Management And Ownership, Risk Management, Technology

Hospitality Industry Management Update: “How Hotels Can Prepare for a Spike in Business”

While emergencies may force some on-the-fly thinking, citywide festivals, high-profile conventions, and major sporting events offer the luxury of time to fully prepare. Hotels make good use of those months—years, in some cases—addressing the situation from multiple angles,surge in business says Javier Rosenberg, COO, Americas, Carlson Rezidor Hotel Group. If the event involves public figures, security is enhanced to keep celebrities separate from fans. If traffic will be heavy, alternate travel routes are identified and schedules adapted to reach destinations on time.

Talk to anyone who has worked in the hotel industry for any length of time, and chances are you can uncover a story or two involving a surprise guest surge. For Robert Holmes, one of his most poignant experiences occurred less than two hours into his first morning manning the front desk at the Park Hyatt Washington D.C. in Georgetown on Sept. 11, 2001.

“I was standing at my desk, and I saw all of these people coming in,” Holmes remembers. “I turned to my staff and said, ‘We’re going to get through this.’” Prompted by a bomb threat, the hotel across the street evacuated its guests to the lobby of the Park Hyatt. With flights suspended and the local community on high alert because of the attack on the Pentagon two miles away, visitors were seeking both rooms and solace. Guests who had anticipated checking out suddenly had nowhere to go, while newcomers needed a place to stay.

For more: http://bit.ly/1xBjigV

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Filed under Conferences, Guest Issues, Hotel Industry, Management And Ownership, Risk Management

Hospitality Industry Management Update: “Looking Back to 2014, Ahead to 2015 at Natural Disaster Activity”

The report says that it is possible that the U.S. may still have two to three years of near-average flood-related damage before the next catastrophic loss occurs, based on projections from historic data.insurance-journal-logo-340 The 2015 flood losses could total between $5-6 billion, with flash flooding events continuing to account for a large percentage of overall annual damage

Fewer tornadoes, a mild hurricane season, lower acreage lost to wildfires, overall less flood  and other damage— all in all, 2014 was not as bad as it could have been for natural disasters in the U.S.

That’s according to global property information and analytics firm CoreLogic, which released its annual Natural Hazard Risk Summary and Analysis detailing the most significant natural disasters of 2014 and providing several projections for 2015.

The report provides a look at the year’s hurricanes, floods, hailstorms, tornadoes, wildfires, sinkholes, earthquakes, tropical cyclones and typhoon events in the U.S. as well as an international snapshot of the hazard events that caused significant damage across the globe.

For more: http://bit.ly/1DpKzDy

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Filed under Flood Insurance, Hotel Industry, Insurance, Magazines, Management And Ownership, Risk Management