Hotel & Hospitality
Is your hotel or resort properly insured?
Every hotel and resort is different, so the policy that’s right for your business needs to be equally unique. Brady Risk Management specializes in providing risk management and insurance solutions tailored to the hotel and hospitality industries. Our clients come from an array of hospitality industries and roles, including but not limited to hotels, resorts, restaurants, casinos, owners, operators, property managers, and investors.
Whether you are just building your business or your hotel has been operating for decades, we can work with you to improve your hotel risk management strategy. We will take into consideration the vast array of risks that hotels and hospitality businesses face. From the safety of your guests to concerns with workers’ compensation, we work to tackle the issue from every angle. If you are looking for hotel risk management strategies, reach out to our team and learn more about how we can help.
It All Starts With Assessing Your Risks
The hotel business has four components. The first is your property/premises, the second your staff and guests, the third your income, and the forth your reputation. At Brady Risk Management, we take the time to get to know your business and work closely with you to design a risk management program that will protect these fundamentals, while giving you peace of mind that you’re covered in any event. Assessing the risks you face is a vital step in the process of risk management. Without knowing what you are facing, you cannot properly prepare for what lies ahead.
Unfortunately, in the case of the hospitality industry, the risks faced are vast and often unpredictable. Everything from catastrophic damage to your property, such as a fire, to employee claims against your business, such as sexual harassment, can derail the success of your business. The key is to work with a team like ours who has years of industry-specific experience under our belts. We will work with you to address the risks you face and to find ways to lower your risks and costs while improving your coverage.
There are a variety of insurance policies that will be important for a business operating in the hospitality industry. Depending upon the specific business you are running, the following may or may not be necessary for your company:
- General liability insurance
- Workers’ compensation
- Property insurance
- Employment practices liability insurance
- Liquor liability insurance
- Crime liability insurance
- Cyber liability insurance
- Umbrella insurance
Here at Brady Risk Management, we can work with you to find the best coverage at the lowest cost for your hotel or resort. We work with the top insurance providers across the nation to pair you with plans that are not only affordable but also specifically relevant to your business.
Creating A Strategy Goes Beyond Just Insurance
Not only do we help businesses in the hospitality industry find the right insurance policies for their needs, but we also go beyond just insurance to help create a holistic hotel risk management plan. Our strategies implement technology, intelligence, and experience to create an effective strategy for mitigating risks. There is no way to ever completely avoid risks in the hotel industry but there are ways to lower the risks your company faces.
Our strategy will include important items, such as improving employee handbook policies, as well as determining how to better protect your guests from crimes. We will also take the time to dive into the security of your technology as cybercrime is a growing concern for any industry that utilizes the internet for the transmission of sensitive data. Something as simple as upgrading your hotel’s software or implementing better security systems can go a long way in lowering the risks you business faces. This also can lead to lower costs for the policies you do purchase and better coverage in the case of a claim. Ideally, by improving your hotel risk management strategy you will see a decrease in the risks you face with an increase in the coverage you receive from the policies you carry.
Work With Our Experienced Team
If you realize that there are major gaps in your coverage or that your hotel could use a refresher on risk management, we invite you to reach out to our team. Whether you are just taking over a failing property or you have been successfully operating a resort for years, we can work with you to ensure your hotel risk management strategy is up to date and that you have the right coverage for your specific needs.
We specialize in the following:
- Boutique hotels
- Company-owned or franchised properties
- Property Managers & Investors
- Destination resorts
- Private-label properties
Our team will begin by sitting down with your team and learning more about the operation of your facility. We will go from there to assess everything from your employee policies to your property’s security. Our goal is to turn over every stone for you so that you can rest easy knowing any risk that exists has been thought about and prepared for. Whether you are the actual hotel owner or simply an investor interested in improving your profits, we can work with you to improve your hotel risk management strategy. Reach out today to learn more about the team at Brady Risk Management and to get started on building a better future for your company.