Category Archives: Flood Insurance
Hospitality Industry Property Risks: Illinois Hotel Suffered Over $2 Million In Water Damage In 2010 After 13.5 Inches Of Rainfall Caused Flooding In Downtown Area
“…The Mechanical Rooms were flooded and heating and air-conditioning had to be taken out and replaced. The entire lower level of the building was destroyed, including irreplaceable antiques being stored down there. The structural damage was significant…” The rain started … Continue reading
Filed under Flood Insurance, Insurance, Liability, Maintenance, Management And Ownership
Hospitality Industry Flood Risks: Tennessee Hotel Owners Sue Federal Government For “Negligence” In Managing Spillway Resulting In “100-Year Flood” Levels Two Years Ago
Gaylord wants $250 million for damages to its Gaylord Opryland Hotel and the Grand Ole Opry House ”…the Corps opened the spillway at Old Hickory Dam…the discharges were so high they caused the Cumberland River to rise above the 100-year flood … Continue reading
Hospitality Industry Flood Risks: Ohio Restaurant Struggles To Reopen After “Flash Flooding” Damaged Buildings Not Covered By Flood Insurance
“(the owners)…had to replace all of the flooring and drywall in the restaurant. Some of the kitchen equipment had to be repaired, and everything else either was discarded or thoroughly cleaned…” The buildings were not covered by flood insurance, but … Continue reading
Filed under Claims, Flood Insurance, Insurance, Liability, Maintenance, Management And Ownership
Hospitality Industry Property Risks: Hurricane Irene Damage Forces Closure Of North Carolina Hotel Until 2012
”…(a review of)…the situation with repair and restoration companies, insurance and safety inspectors, and a host of others, we have regretfully concluded that the safest option for our guests and associates is to temporarily close the hotel in order to … Continue reading
Hotel Industry Flood Damage: Hawaiian Hotels Damaged By Tsunami Would Only Be Covered By Flood Insurance And Commercial Policy “Difference In Conditions” Coverage
Typical property insurance policies written in the United States exclude flood and earthquake damages. A tsunami is a tidal wave often caused by an earthquake; it is a flood and excluded under most policies. Generally, these perils are only covered … Continue reading
Filed under Flood Insurance, Insurance, Liability, Maintenance, Risk Management
Hospitality Industry Risks: Hotel And Restaurant Owners And Management Must Have Emergency Plans And Insurance In Place To Manage Crisis
Hotel owners and management must be able to deal with catastrophic events and know the answers to the following: How quickly could you restart? Would insurance provide money for next week’s rent and wages? What would the bank say? Massive … Continue reading
Hotel Flood Insurance: Flood Damage To Hotels Is Very Complicated And Expensive As Much Of The Mechanical And Technological Infrastructure Can Be Below Street Level
“Flood damage requires an extraordinarily complicated repair process. We have had to manually test every aspect of our mechanical, electrical, information technology and power-generating systems in order to understand what works, what needs to be repaired, and what needs to … Continue reading
Filed under Flood Insurance, Insurance, Liability, Risk Management
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