Hotel Insurance Q + A [Webinar Recording]

We enjoyed talking with insurance brokers during our latest webinar, a 30-minute session entitled, “Hotel Insurance – Primary, Umbrella and Beyond!” Our attendees brought the energy and the questions – over 25 questions were addressed in the webinar.

Brokers, level up your defenses in this hard market. As one of the longest-running programs in the US, we have seen it all. Watch the full webinar recording below as we delve into the complex world of hotels and answer your questions on hotel insurance.

The session covered a broad range of topics including costs, concerns, and timelines. We discussed the need for high limits and offered lessons learned from our top-performing brokers.

Download the Webinar Slides here
View the Q + A’s and Transcript here

MODERATOR:
Ritchie Vener, SVP and Chief Marketing Officer, Distinguished Programs

EXPERT PANELISTS:

Sean Young Managing Vice President, Hospitality Umbrella Program at Distinguished Programs
Sean is the Hospitality Umbrella Program Manager overseeing our Express and High-Limit Hotel Umbrella programs at Distinguished. Sean came to Distinguished with the National Specialty Underwriters (NSU) acquisition in 2012 and recently celebrated his 20th anniversary with the company. He joined NSU as a CSR and moved to underwriting in 2007. Prior to joining Distinguished, Sean worked at Acordia Seattle on the retail side.

Heather Jorgenson Senior Underwriter, Hospitality Primary Program at Distinguished Programs
Heather is the Senior Underwriter of the Distinguished Hotel Primary program. Heather brings over 12 years of underwriting experience to Distinguished. Prior to joining in August 2021, she comes from an underwriting background in both admitted and excess & surplus lines. Currently, she assumes the primary responsibility of Property underwriting with some General Liability and Auto underwriting.

So many questions!

During the webinar, we ran short on time and were unable to take all of our attendee questions.
Since we didn’t get to all of the attendee’s questions, we included all of the remaining questions and
answers from the live session in an Addendum to our transcript. Here’s a sample of the most popular questions:

Is there any specific email or underwriter to contact to expedite last minute quote?
Best to always contact your Sales Exec as they’re best able to coordinate with the UW’s. Click here
to Find Your Sales Executive

Once I have all of the needed info, how much lead time do you need for the primary property
and GL program?

Heather Jorgenson, Primary Hotel Insurance: We prefer to have 30 days for Primary Property &
GL, but ask for two weeks at a minimum.
Sean Young, Umbrella Hotel insurance: We ask for at least two weeks for the umbrella program.

Do you have mandatory percentage wind/hail deductibles in states like MO and OK or can
you do flat fixed-dollar deductibles?

Heather Jorgenson, Primary Hotel Insurance: The wind/hail deductibles for MO, OK, and any
other state where convective storm exposure is high will depend on the construction type.

Why Do My Clients Need Higher-Limit Hotel Umbrella Insurance?
Sean Young, Umbrella Hotel insurance: Sometimes hotels think they just need what their franchise requires. Or they feel they only need high limits if they have high-risk exposures. From our almost 30 years of writing hotels, we have found that most of our very biggest losses emanate from very innocuous exposures like elevators, autos, and slip and falls. You need high limits because you want to protect your assets from that catastrophic once-in-a-career accident that you didn’t foresee. When the stars align just incorrectly and a high-earning fragile CEO steps just wrong on your step and suffers injuries you wouldn’t have foreseen or when your security guard, that you ran background checks on, abuses a guest in a hotel room and a very sympathetic claimant triggers a certain response from a jury who returns an unbelievable verdict. It’s the unexpected thing that happens on a very ordinary day at a very ordinary hotel that becomes an enormous claim. Without sufficient limits, in place, it can put a company right out of business.

What is the underlying Liquor Liability Limit for full-service hotels?
Sean Young, Umbrella Hotel insurance: Typically, $1M/$2M. In a few states, we require higher
liquor limits depending on the receipts/amount of exposure.

About Distinguished Programs

Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Real Estate, Community Associations, Hotels, and Restaurants. Property and liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished Programs’ high-limit umbrella programs remain the clear choice in its areas of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.

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