With most Hotel/Real Estate firms, there are critical coverage and exposure analytics which must be understood and addressed in the program structure and policy contract including liquor liability and the unique exposures presented by spas, fitness facilities, pools, golf courses as well as sexual harassment and theft. Contract certainty is of the utmost importance. Throughout our negotiations with Underwriters, we make sure that the each underwritten line blends with the entire program without gaps or policy language contradictions. It is, after all, the contract that will have to stand on its own in case of loss. Having a thorough understanding of a client’s coverage needs is paramount in the process. Does an Insured have a need for Historical Landmark valuation language? What about a centralized reservation center? Is there a business continuity plan in place with a dedicated hot site? Is broad coverage afforded for Mold, Fungus or Mildew which results from a covered cause of loss? Does the Demolition & Increased Cost of Construction coverage extension limit recovery to codes in effect at the time of loss? There are a multitude of enhancements which can be made to standard coverages and extensions of coverage, which are there for the taking as long as the broker has knowledge of the needs of hotel and real estate clients.
We provide a forensic analysis of our clients’ current coverage and develop a complete insurance solution. We pride ourselves on being coverage experts and fierce negotiators within the marketplace with our hands-on loss control and claims management. We are not only able to save our clients money but reduce their overall exposure.
Krauter & Company’s team possesses this experience and also has the technical (contract/policy wording) knowledge to negotiate the broadest terms and conditions possible. Because of our experience and expertise, we have participated as expert witnesses in instances of coverage disputes and/or interpretation of policy language.