We live in a violent and uncertain world. Violent acts and disasters occur as we update daily information, an upsetting realization of how frequent such events are becoming.
The hospitality industry is no stranger to disasters that are taking place on an unprecedented scale. Massive loss from natural disasters is an ever-present threat. The booming tourism industry and population density in many cities means a mass casualty event is a real possibility.
When unspeakable tragedy strikes, what do you do? Often left with unanswered questions, we're unsettled by the very nature of these occurrences. As you manage your way through a growing list of items, too often there appears to be a corresponding list of unanticipated expenses — most of which would normally fall outside of your existing coverage.
Violent Malicious Acts (VMA) coverage is designed to help you and your community move forward after a tragedy. It insures the extended loss of revenue and/or necessary extra expenses you incur in order to continue the normal conduct of your organization’s operations following a violent malicious act, without the requirement for property damage.
> Violent Malicious Acts Coverage Flyer (VMA)
Through an exclusive agreement with Disaster Management International (DMI) and Lloyd’s of London, your Gallagher team can provide you with Disaster Management Services as an insurance offering. DMI will respond in the event of any natural disaster or man-made catastrophe affecting multiple (defined as five or more) lives and potentially resulting in multiple fatalities and/or injuries.
Disaster Management Services provides a full-scale, almost concierge-like response to the human side of a disaster for both types of catastrophes: the violent events that cause injuries and fatalities, and catastrophic events of almost every nature. This includes floods, tornadoes, tsunamis, plane crashes, earthquakes, fires, vehicle accidents, political/international events causing harm and more. Services provided include onsite management of the incident; injury and fatality management; medical services coordination; behavioral health services; psychological first aid; coordination at your principal location of business (media management, crisis communication, government liaison); family assistance; victim and family travel management.
Disaster Management Services: How will you respond? [ Article]
For more organizations these days, they usually find out too late that if a disaster situation occurs which impacts their property, their employees, their customers/clients or more, their liability coverages may have exceptions for issues associated with disaster. Several Gallagher practice teams offer Disaster Management Services coverages with policies underwritten by Lloyd’s of London.
The Gallagher Hospitality Services team offers exclusive terrorism insurance designed specifically for the hospitality industry. Due to its unique structure, this coverage is not designed like any other terrorism protection. Coverage differences include:
- Denial of access coverage for loss of income, sustained due to impaired access to the insured’s property during terrorism or a sabotage event
- Loss of attraction indemnity for loss of income, sustained due to guests not wanting to travel to the area or stay at the property
- Cyberterrorism indemnity for loss of income, due to cyberterrorism activities related to a third-party involved in facilitating public travel to the property
- Third-party liability coverage for loss due to bodily injury or property damage to third parties, due to terrorism (such as people injured from debris from terrorism-related hotel damage)
For more information and articles on this topic, please visit our Hospitality Knowledge Center in this section.