“What Can Hoteliers Do to Combat Rising Insurance Costs?” Hotel Executive

In an article published on October 14, 2024, in Hotel Executive, Josh Cavallin discusses the challenges hotel operators face in securing affordable property and liability insurance during a hard market crippling the industry.

“Property insurance has been the biggest heartburn for most hotel operators over the last two years. Daily conversations with brokers and agents all end with the same thing: It is a tough property market, something the market has not seen in 30-plus years,” Cavallin explains. “Our data set has grown significantly through M&A activity and organic growth, and we have a unique opportunity to leverage our data as a strategic asset. This not only increases operational efficiencies but also helps identify trends and areas of growth.”

He further provides guidance on what operators can do to combat rising insurance costs.

“It is more important than ever to establish a relationship with an insurance professional with a niche for hotels,” Cavallin says. “Hotel operators need full transparency and context from their agent more so than ever to navigate this hard market.”

To read the full article, click here.