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Miami at Risk Without Coastal Flood Insurance

Not having coastal flood insurance in Florida is silly; not having coastal flood insurance in Miami is crazy. Miami's antiquated flood-control system was designed more than 60 years ago, before the area exploded with development and became one of America's largest cities. All it will take is one major storm surge from a hurricane to [...]

By |October 21st, 2014|Categories: Flood Insurance, Hotels, Hurricane Sandy, Risk Management|Tags: , , |

New OSHA Regulations and Recordkeeping Rules

Beginning January 1, 2015, establishments located within Federal OSHA jurisdiction must comply with new, expanded recordkeeping requirements. Establishments located in states operating their own safety and health programs should contact the appropriate state authority to determine the start date for the new requirements. Under the new reporting requirements, employers must report the following to OSHA: [...]

Industry Survey Puts the Spotlight on Hotel Security Risks

An insurance industry survey on hotel security by Advisen, a firm providing insight into underwriting, marketing and purchasing commercial insurance, highlights several important findings. The survey respondents included Chief Risk Managers/Head of Risk Management Departments (63%), the head of Hotel Security/Loss Prevention (25%), member of Risk Management Department (6%) and Environmental Health and Safety staff [...]

How to Proactively Address Cyber Threats

Cyber threats is on everyone’s mind – the government, large corporations, and mid- to small-sized businesses across many industries – and rightly so. Last year was the worst year for cyber threats so far, with 740 million data files potentially viewed or stolen worldwide, according to a report, “Records Exposed Hit New High in 2013, [...]

Insurers Weighing in on Climate Change, Impact on Insurance

The third U.S. National Climate Assessment report was recently released along with an announcement by the Obama Administration of a series of executive actions to take place  “to reduce carbon pollution, prepare the country for the impacts of climate change, and lead international efforts to address global climate change.” Regardless of one’s view in the [...]

Real Estate & Hotel Industries Calling for Terrorism Insurance Reauthorization

The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is set to expire on December 31, 2014 and Congress has yet to extend it, with on-going debates taking place in the Senate on how to proceed. The insurance industry and businesses, including those in the real estate and hotel industries, have been calling on Congress to [...]

Employment Practices Liability A Top Risk Concern for Business Owners Including Hotels

Employee disputes are listed as a real concern for organizations across a broad spectrum of industries, according to this year’s Norton Rose Fulbright’s Annual Litigation Trends Survey. Nearly 50% of the survey respondents cited labor and employment issues as topping the number of cases their organizations faced in 2013. This not at all surprising considering [...]

Wyndham Data Breach Update: Court Upholds FTC’s Right to Sue Hotel

Over the past couple of years, we’ve have been following and blogging about the data breach that occurred at Wyndham Hotel Group and the resulting lawsuit that the Federal Trade Commission (FTC) filed against the hotelier. We feel this is a very important issue because of the escalating risks of cyber attacks and the potential [...]

More Reason for Cyber Liability Insurance: Hotel Mobile Bookings to Spike in 2014

Last month in our blog, in our discussion on cyber risk management, we cited that hotels and motels accounted for 9% of all data breaches last year. This figure is according to data made available in Trustwave’s 2013 Global Security Report. With the rise in mobile use for hotel bookings, increased implementation of cloud computing, [...]

Hotel Risk Management: Bracing for Data Breaches

In the past, we’ve discussed the fact that increasingly more companies are stepping up their efforts to stem cyber attacks and data breaches with preventative measures. Additionally, large and small organizations are realizing the need for Cyber Liability insurance to help protect company assets in the event of a breach. In fact, many in the [...]