loss recovery
Proactive Disaster Planning Tips for Hotels and Resorts
Kacey Bradley | January 3, 2019
By Kacey Bradley No one relishes the thought of having a much-needed vacation destroyed by a hurricane, tornado or wildfire. For those in the hospitality business, natural disasters open the possibility of liability for guest injury. Advance planning on how to deal with natural disasters helps hoteliers avoid costly lawsuits as well as prevent loss of human life. What must those in the hospitality industry do to ensure they maximize guest safety in the event of a disaster? These common-sense tips provide an excellent starting point for developing a comprehensive safety plan in the event catastrophe strikes. Complete a Risk Assessment Th...
Disaster-Related Hotel Business Loss Recovery – Unique Challenges
Mark Earle | October 18, 2018
By Mark Earle Hurricanes Michael and Florence are both gone, but the extent of their destruction is now coming into clearer focus. Michael-caused losses in property and income are estimated to be $15 to $21 billion, according to Moody's Analytics. Boston-based insurer Karen Clark & Company (KCC) released an estimate of $3.7 billion for storm surge alone. KCC's catastrophe models estimate that Hurricane Michael caused about $8 billion in privately insured losses, which do not include losses covered by the National Flood Insurance Program. While Michael was the fourth-strongest storm to hit the U.S. since record-keeping began 1951, it...
