The program offers a property and general liability package through their Franchise Hotel Program.
PRODUCT: The Franchise Hotel Program
COMPANIES: SUITELIFE Underwriting Managers, a series of RSG Specialty LLC. RSG Specialty Insurance Services, LLC in California.
BEST RATING: A+
AVAILABILITY: Available on an open-brokerage basis through contracted agents and brokers.
FOCUS: Approximately 30% of the hospitality and lodging industry consists of three-star full-service franchise hotels, limited-service hotels, smaller independent hotels or boutique hotels. The Franchise Hotel Program by SUITELIFE Underwriting Managers looks to service this sector of the hospitality industry.
The SUITELIFE Underwriting Managers team has focused solely on the lodging and hospitality industry since 2009, utilizing specialized knowledge of hotel and resort operations, claim trends and services to offer hotel clients with a program that will provide the most impact. This product complements SUITELIFE's existing coverage for boutique hotels, independent hotels, resorts and hotel management companies.
“The SUITELIFE Program is recognized nationwide for comprehensive insurance coverage, unparalleled risk management expertise and superior service," says John Welty, president of SUITELIFE. “We are thrilled to expand our offering to include the Franchise Hotel Program, allowing us to reach an even broader segment of the hospitality industry."
COVERAGE DETAILS: The program offers a property and general liability package. Coverage highlights include:
- Non-auditable policies rated on the number of rooms.
- General liability coverage for owned premises.
- Optional liability coverage, including wake-up call liability, employee benefits liability and hired and non-owned auto liability.
- Property coverage for buildings, business personal property, business income-actual loss sustained and equipment breakdown.
- Hotel coverage extensions including guest property, employee dishonesty, money and securities (inside and outside), outdoor property and outdoor signs.
UNDERWRITING: Along with your ACORD application, submit SUITELIFE's Franchise Hotel Program Insurance application, which is available online. Information about the hotel's general operations, security and safety operations, food and beverage services, housekeeping operations, controls for abusive acts and human trafficking must be provided. Additionally, a company must provide five years of currently valued carrier loss runs.
TARGET: Single hotels with under $15 million in total insured values, including building, contents and business interruption. The focus is on three-star full-service franchise hotels, limited-service hotels, smaller independent hotels or boutique hotels.
COVERAGE AVAILABILITY: All U.S. states except Alaska and Hawaii.
CONTACT: James Shaffer, executive vice president, sales and marketing, SUITELIFE Underwriting Managers; 610-350-9665.
Will Jones is IA editor-in-chief.