Tag Archives: Insurance

by | December 2, 2014 · 9:37 am

Hospitality Industry Insurance Update: “Think Your Workers’ Compensation Covers Everything? Think Again!”

Consider the risks involved when an employee travels overseas for work. Courts have often ruled that an injury or illness that an employee suffers while on short term assignment away from home—even if he or she is not working when it occurs—is work-related.workers comp But a basic workers’ compensation policy will probably not cover this type of claim. A foreign workers’ compensation policy will. Although no law requires employers to provide this coverage, you risk paying medical and lost-time costs out of pocket if you do not have coverage and a traveling employee becomes injured.

You might think your workers’ compensation covers all work-related injuries and illnesses. This could prove a costly mistake.

In most cases, workers’ compensation will cover work-related injuries and illnesses. But in certain special circumstances—which might apply to your company—the basic workers’ compensation policy will not provide coverage. This could leave your company on the hook for a costly workers’ compensation claim.

For more: http://bit.ly/1ycd3fF

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by | December 1, 2014 · 10:25 am

Hospitality Industry Legal Update: “Costa Mesa Sued Over Law Limiting Stays at Motels

Under the ordinance, which took effect last month, motel owners must apply for a conditional use permit to allow any new long-term tenants.Costa Mesa Hotel To be granted a permit, the motel must meet requirements such as providing on-site laundry facilities, installing kitchens in every room and having at least 75 rooms.

A recently enacted law that limits how long people can stay at motels in Costa Mesa was illegally designed to target low-income residents, a lawsuit filed against the city alleges.

The Public Law Center, a Santa Ana-based pro bono law firm, sued this week on behalf of a group of residents to block an ordinance adopted last August limiting when motel guests can rent a room for more than 30 days.

For more: http://lat.ms/1FHJlDm

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

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by | November 21, 2014 · 10:34 am

Hospitality Industry Management Update: “Increase Hotel Profits by Keeping Your Employees Happy”

Customers often base their spending behaviors solely on their perception of the service. This is particularly true in the travel industry. Happy hotel maid at work in hotel roomQuick and efficient check-ins, a welcoming and accommodating staff, honesty and brand reliability are essential. When combined, these ingredients create the ultimate recipe for profitability.

The hospitality industry is thriving, but with that success comes responsibility. Hotel and restaurant owners need good management practices in order to remain relevant and realize sustained profits. Effective management includes overseeing employee satisfaction. Research has shown that there is a direct connection between employee contentment and customer loyalty. This is why it is important to take an interest in each staff member’s happiness.

In an accommodation industry, the key to customer satisfaction is high-quality service. However, employees who are unhappy often lack the motivation to provide such service, which results in disgruntled customers. This trickle-down effect can adversely affect a company’s revenue. Studies have proven that the attitude of an employee is directly related to a customer’s spending. Essentially, happy employees create happy customers.

For more: http://bit.ly/1xKit6j

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by | November 13, 2014 · 9:34 am

Hospitality Industry Management Update: “Examining Hotel Labor Costs”

Labor cost is a major expense item throughout all operated and undistributed departments within a hotel. Not surprisingly, the labor-intensive rooms and food and beverage departments have the highest labor cost ratios.labor costs In 2013, labor costs represented 61.1 percent of total expenses in the rooms department and 59.6 percent in the food and beverage department. At the other end of the spectrum, labor costs are less pervasive in the administrative and general (48.8 percent) and maintenance (51.5 percent) departments.

As revenues continue to grow for most U.S. hotels, the combined cost of salaries, wages, bonuses, and payroll-related expenditures has declined as a percent of total hotel revenue. In 2013, labor costs represented 32.3 percent of total revenue, down from a high of 34.8 percent in 2009 but still above the long-run average of 31.2 percent. Labor costs measured as a percent of total revenue run from a high of roughly 35 percent at convention and resort hotels to a low of 22 percent at limited-service and extended-stay properties.

Strong growth in revenue, however, has the potential to mask the struggles hotel managers face to control labor costs. Therefore, it is important to also measure movements in labor costs relative to changes in other hotel operating expenses. While labor cost as a percent of revenue has declined significantly in recent years, labor cost measured as a percent of total expenses has remained relatively constant.

For more: http://bit.ly/111qTYD

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Filed under Employee Benefits, Finances, Hotel Industry, Management And Ownership

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by | November 7, 2014 · 8:50 am

Hospitality Industry Insurance Update: “AH&LA, 80+ Hotel Organizations Call On House Leadership To Pass TRIA Now”

TRIA is intended to provide stability to the economy and assure investors and developers,ahla-80-hotel-organizations-call-on-house-leadership-to-pass-tria-now as they plan long-term projects, that insurance will be available to adequately protect their properties against the financial risk of a terrorist attack. However, a short-term extension creates uncertainty as to whether TRIA will still exist as these projects move forward.

Washington, D.C. — In the wake of the midterm elections, the American Hotel & Lodging Association (AH&LA), along with more than 80 other hotel industry groups including hotel brands, management companies, real estate investment trusts (REITs), owners and state hotel associations, called on the House of Representatives to get back to work and pass the Terrorism Risk Insurance Act (TRIA) in a letter sent to House leadership.

AH&LA urged lawmakers to focus on the immediate priorities, including passage of this vital piece of legislation, which is critical to protect job and economic growth within the hotel industry and across the broader economy. More than 80 groups joined AH&LA in signing the letter, which was sent to every member of the House of Representatives in addition to House leadership.

For more: http://bit.ly/10ym9JI

 

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by | November 6, 2014 · 9:33 am

Hospitality Industry Management Update: “3 Obamacare Decisions for Hoteliers”

Unless the act is repealed, over time employers will realize its effects, both positive and negative.illness(1920x1080) Rather than waiting around, however, employers are already adopting offensive moves to blunt financial impact beyond a certain level, seeking improved productivity through reduced costs and updated methods. 

Despite attempts by health care experts to demystify the Affordable Care Act, some employers remain unsure of how to comply. Their questions are basic and familiar: Who is a covered employer? What type of coverage must be offered? May we keep our 90-day waiting period for enrollment?

While these questions are important, a more urgent imperative looms: The deadline for many employers to comply with the mandated coverage provision of the Affordable Care Act is approaching rapidly. Some smaller companies will not face mandatory coverage decisions until 2016, but for many employers a compliant health coverage program must be in place as early as New Year’s Day 2015.

Critical decisions must therefore be made without delay.

For more: http://bit.ly/1wzWL39

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by | November 3, 2014 · 9:09 am

Hospitality Industry Legal Update: “California Ranks Highest For Workers’ Compensation Costs”

California employers are required by law to have workers’ comp insurance, even if they have only one employee.Workers Comp (NO LOGO) The California Department of Industrial Relations (DIR) imposes assessments on employers to cover the cost of potential workers comp claims. The amount a business pays into the system depends on how many employees a business has and what its total payroll is.

California has been ranked as the most expensive state for workers’ compensation costs, according to a newly released report.

The Workers’ Compensation Premium Rate Ranking Summary from Oregon’s Department of Consumer and Business Services shows that California businesses spend $3.48 for every $100 of payroll issued.

That’s 188 percent of the median cost of $1.85 for all 50 states. California was the third most expensive state in 2012 and the fifth most expensive in 2010.

“California’s workers’ compensation system is incredibly inefficient,” said Jerry Azevedo, a spokesman for the California-based Workers’ Compensation Action Network, which seeks to reduce costs for employers and improve services to injured workers. “It does not do a good job of achieving its goal. For as much as employers pay, they don’t get a lot out of it.”

For more: http://bit.ly/1pgVFZb

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by | October 22, 2014 · 8:37 am

Hospitality Industry Risk Update: “Liberty Mutual: Retail and Hospitality Institute II”

“Best practices for mitigating risk and reducing losses for guest and employee injuries and incidents in the retail, hospitality, restaurant, gaming and entertainment industries.”

Liberty

At the conclusion of this institute, you will be able to:

• Explain what drives best-in-class performance in safety and risk
management
• Implement best practices for achieving safety and
operational excellence
• Apply resources and take advantage of networking opportunities that
can lead to stronger risk mitigation practices and related expense control

For more information contact Liberty Mutual at LPED@libertymutual.com with questions.

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by | October 20, 2014 · 11:16 am

Hospitality Industry Legal Update: “Justices Will Decide Privacy Case on Hotel Records” (VIDEO)

“Los Angeles has said the ordinance makes prostitutes and drug dealers less likely to use hotels if they know that the facilities must collect information about guests and make them available to police on a moment’s noticegavel (1)…In dissent, Judge Richard Clifton said that courts previously have ruled that hotel guests have no expectation of privacy in records of their names and room numbers. “A guest’s information is even less personal to the hotel than it is to the guest,” Clifton said.”

The Supreme Court agreed Monday to referee a dispute over police access to hotels’ guest information without first getting a search warrant.

The justices said they will hear an appeal by the city of Los Angeles of a lower court ruling that struck down an ordinance that requires hotel operators to open their guest registries at the demand of police.

The federal appeals court in San Francisco divided 7-4 in ruling that the ordinance violates the privacy rights of the hotels, but not their guests.

For more: http://bit.ly/1zi8CGd

And for more information on how to best handle police requests for information, check out Petra’s own Director of Risk Management, Todd Seiders, in this P3 Risk Management Update “How to Handle Police and Law Enforcement Request for Hotel Guest Information”.

[vimeo https://vimeo.com/109469870 w=500&h=281]

P3 (Petra Plus Process) is the Risk Management Division of Petra Risk Solutions – America ’s largest independent insurance brokerage devoted exclusively to the hospitality marketplace.

For more information on Petra and P3 visit petrarisksolutions.com or call 800.466.8951.

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by | October 10, 2014 · 9:25 am

Hospitality Industry Risk Update: “Liberty Mutual: Retail and Hospitality Institute II”

“Best practices for mitigating risk and reducing losses for guest and employee injuries and incidents in the retail, hospitality, restaurant, gaming and entertainment industries.”

Liberty

At the conclusion of this institute, you will be able to:

• Explain what drives best-in-class performance in safety and risk
management
• Implement best practices for achieving safety and
operational excellence
• Apply resources and take advantage of networking opportunities that
can lead to stronger risk mitigation practices and related expense control

For more information contact Liberty Mutual at LPED@libertymutual.com with questions.

Comments Off on Hospitality Industry Risk Update: “Liberty Mutual: Retail and Hospitality Institute II”

Filed under Guest Issues, Hotel Industry, Risk Management, Training

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