Policy to offer property cover of up to $80m
Marsh has launched a new hotel facility for individual hotels and small chains.
The Specialised Products Hotel Facility provides all-lines cover, including property, casualty and terrorism, for global territories outside North America.
The hotel facility provides individual hotels and small chains with an exceptionally broad level of cover at highly competitive rates. Key features include property cover of up to $80m, and additional excess layers, if required.
Property cover is based on an all-risk London property wording, while the cover for casualty and terrorism is based on competitive London forms.
Risks are submitted individually for rating purposes and full risk information is required with each submission.
Ian Macartney, head of specialised products, commented: “While understanding and proactively managing risk is an established concept in the US and Europe, many firms in Latin America, the Middle East, Asia and Eastern Europe are just beginning to realise the benefits that strategic risk management can bring to their organisations.
"The Specialised Products Hotel Facility has been developed specifically with these territories in mind.
“The beauty of the Hotel Facility lies in its simplicity. It ensures that individual hotels and small chains have comprehensive cover, yet it retains the flexibility required to meet the unique needs and risk profiles of each client and the territories in which they operate.
“The Specialised Products team has worked closely with clients, key markets and colleagues around the world over the past 12 months to develop the hotel facility.
"As a result, we have created a unique offering which provides clients with even greater choice, and more importantly, increased leverage in the market.”
