Hub International partners with InsuraGuest
Global insurance broker Hub International has partnered with Salt Lake City-based InsuraGuest to provide its Hospitality Liability coverage to HUB hotel clients in the US with plans to expand to HUB’s clients in Canada by mid-2021.
Founded in 2017, InsuraGuest utilizes a proprietary software platform to deliver specialized Hospitality Liability coverages to member hotel properties. With InsuraGuest custom coverages, properties benefit from an additional layer of protection should a guest experience an accident, in-room property damage, accidental medical and death & dismemberment or theft while staying at an InsuraGuest-covered hotel property.
The company integrates with approximately 70 different property management systems through its API, which enables the organization to transfer certain liability exposures to the InsuraGuest carrier. By transferring certain liabilities to the InsuraGuest Hospitality Liability coverages, the covered hotel property can lower their claim ratio and risk profile, which may decrease their General Liability premiums. Additionally, the InsuraGuest product can help generate revenue for participating hotels or vacation rental properties. The hotel extends the coverage to each and every guest, which is activated at check in, and automatically places the charge on their folio or bundling it with their resort/amenity/urban fee. The complete fee for coverage and software is $4.95 a night, of which the hotel keeps 10%.
“Given the current state of the hospitality industry, it is nice to have a new and exciting tool such as InsuraGuest, which will help us lower a hotel’s overall liability costs through claims avoidance. InsuraGuest costs a hotel owner nothing. In fact, it actually generates new revenue while giving us the means to reduce General Liability premiums by improving guest loss ratios. By minimizing the frequency of a hotel’s claims, we are able to have better underwriting conversations with the marketplace.” – Kevin Eggleston, Managing Director of HUB’s Hospitality Specialty Practice.
“We look forward to our premier preferred partnership with HUB, which will allow us to expand our product offering to their more than 9,300 hospitality customers in the U.S. this year and into Canada next year.” – InsuraGuest CEO and Chairman Douglas Anderson.
