The American Hotel & Lodging Association (AH&LA) has negotiated with Willis Group Holdings, a global insurance broker, and American International Group…
The American Hotel & Lodging Association (AH&LA) has negotiated with Willis Group Holdings, a global insurance broker, and American International Group (AIG), commercial insurer, to underwrite an insurance program that protects AH&LA member properties against the increasing threat of cyber risk.
Cyber risk is a new and rapidly evolving type of coverage and many of today’s insurance policies are custom-designed for major corporations. The new one-of-a kind AH&LA program is ideal for independent or franchised properties, and available to all members.
In addition, AH&LA is developing a mold-only program. Mold coverage has been available in the market, but only as part of more comprehensive environmental programs that many AH&LA members consider too expensive and not relevant to their operations. The AH&LA Insurance Center will open with cyber risk insurance, and by the first quarter of 2005, AH&LA expects to offer mold-only programs as well as other benefits programs.
“Yet another member benefit leveraging the size, scale, and scope of AH&LA to consolidate buying power, so members can produce products and services at a much more cost-effective manner than would be possible individually,” said AH&LA President & CEO Joseph A. McInerney, CHA.
The ResortGuard Division of Willis will administer the program, and it will be available to members through their preferred broker.
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