By working hand-in-hand with global hotel leaders in every sector of the industry, Osprey Insurance Brokers is able to provide a wide range of coverage options tailored to meet each of our customers’ individual needs. We offer brokering services for all types of hotel insurance including contract risk management. Our key hotel insurance products include:
Property Insurance Coverage
The following cover options protect the structure and contents of your business from covered perils. Policies include:
Hotel Building Insurance
Our hotel property insurance includes fixtures, fittings and all fixed structures within the hotel and exterior signage. Additionally, it covers all the contents including trade machinery. All this is in addition to the normal coverage for any loss or damaged sustained from the standard perils, which include fire, storms, lightning, explosions, impact and others. This coverage can include losses and damage arising accidentally in the form of All Risk basis of coverages.
Glass, Signs, and Sanitary Fixture Coverages
Our hotel insurance products cover the glass, signs and sanitary fixtures within the establishment. This coverage includes accidental damage or breakage to any form of fixed glass, mirrors or similar products, including accidental damage to sanitary fixtures.
Deterioration of Cold and Refrigerated Stock
Our hotel insurance provides financial security against the deterioration of refrigerated stock following a breakdown of the refrigerating and chilling units under covered claims on all covered premises buildings.
Machinery, Boiler and Pressure Plant Coverage (Engineering)
This policy provides coverage for machinery and equipment breakdowns of losses in situations not associated with poor maintenance and standard upkeep or wear and tear. It includes losses involving the cost to repair or replace the equipment under covered claims.
These policy options provide coverage for losses suffered if your business cannot operate as normal due to a covered peril. Coverage options include:
Loss of Rent
Should a property become unable to be rented, due to a covered claim, this coverage provides for reimbursement for expected rent payables or receivables. It applies to standard perils and non-excluded claims that hinder the location’s ability to provide service.
Loss of Revenue
A form of business interruption insurance, this coverage offers protection from the loss of income associated with the business as a result of an insured loss or damage to the premises. The loss of income may be due to disaster-related events closing the business facility, and it may also apply to instances of rebuilding after a loss or significant damage occurs.
Loss of Revenue Following Engineering Losses
This policy option provides coverage for lost income if a business must temporarily shut down and accumulates extra expenses necessary to continue business operations while the business’s equipment is being repaired.
Loss of Money
Policyholders of Loss of Money coverage gain protection from the loss of funds by any cause including the cost of repair or replacement of the safe or strongroom directly associated with a theft or an attempted theft. In this case, “funds” or “money” are defined as any cash, bank or currency notes, cheques, money or postal orders, current postage stamps, bankers’ drafts, telephone cards, and other assets belonging to the Insured party or for which the Insured party is responsible.
The following policy options provide hotel owners and operators with liability risks and coverage, including:
Employers’ liability provides coverage for all sums the Insured becomes legally liable to pay in relation to the compensation for death or bodily injury of an employee that stems from or out of the course of employment. This policy may include legal costs and expenses.
Public and Products Liability
This coverage provides the hotel with protection from losses, damage or injury to third parties and their property in situations in which the hotel owner or operator, named as the Insured, is ultimately liable for those losses. This may include any instance in which the Insured is responsible to oversee that the property is adequately maintained and safe to use. Instances of loss may include guests slipping on a wet floor in which the property operator failed to provide for protection from known risks.
Public and products liability insurance covers all sums the Insured may become legally liable to pay as compensation from a covered peril, which includes accidental bodily injury to any person, including hotel guests and others, excluding employees, that occurs in connection with business or service within the Insured’s premises, including food and drink under product liability coverage. It also includes accidental loss of or damage to any third party property, cost or expense of litigation incurred by the Insured.
Group Personal Accident
Our policy offers protection for the Insured party, such as employees, if the employee sustains some form of bodily injury caused by external violent or visible means that results in death or disablement or medical expenses. This policy offers additional coverage options that may include assault on any employee.
Our policy provides hotel owners and operators with protection from loss of money or property sustained as the result of or the direct act of employees during the course of employment, which may include fraud, theft or dishonesty.