CLIENT STORY / Hospitality
Hotels: significant underinsurance and an improved programme
A review of hotel cover revealed substantial underinsurance. See why improving the programme requires a look at both values and cover.
← All case studiesThe situation
The hotels’ insurance programme had significant underinsurance. Having policies in place did not, in itself, give a full picture of how the cover reflected the value of the insured property.
What we did
We worked on improving the insurance programme, taking the identified underinsurance into account. Our starting point was whether the cover assumptions matched the properties' circumstances, rather than simply renewing the existing policies.
Outcome
The programme was improved to address the underinsurance identified. This example shows why insured values should be updated before a loss occurs.
Description: The BTLA Broker team. An anonymised account, with no client details disclosed. The outcome of an individual case is not a promise of the price or scope of cover in another case.
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