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Risk Insight

playground safety
Real Estate, Hospitality & Restaurants, Community Associations, Risk Insight

Make Playground Safety A Priority

It’s that time of year again when the sound of children running around in playgrounds across our neighborhoods fills the air. It’s also a time for heighted precautions because as fun as a playground can be, it’s also a place where kids can get seriously injured.

More than 200,000 children ages 14 and younger are treated each year for playground-related injuries, according to the Centers for Disease Control and Prevention (CDC). Of these children, more than 20,000 are treated for a traumatic brain injury (TBI), including concussion. Additionally, about 56% of playground-related injuries are fractures and contusions/abrasions, and about 75% of injuries are related to playground equipment.

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hurricane
Real Estate, Hospitality & Restaurants, Community Associations, Risk Insight

Getting Storm-Ready Ahead of Hurricane Season

As the hurricane season – June 1 through November 30 – unfolds, safety preparations should already be underway by homeowners and coastal business owners, including hotels and restaurants. Forecasters at the National Oceanic and Atmospheric Administration (NOAA) say the Atlantic could see another above-normal hurricane season this year, predicting a 70% likelihood of 11 to 17 named storms (winds of 39 mph or higher), of which 5 to 9 could become hurricanes (winds of 74 mph or higher), including 2 to 4 major hurricanes (Category 3, 4 or 5; winds of 111 mph or higher). The Weather Company also predicts an active season, with an expectation of a total of 14 named storms – seven hurricanes and three major hurricanes.

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umbrella
Hospitality & Restaurants, Risk Insight

4 Lawsuits You Don’t Want at Your Hotel

A man walks into a Vegas hotel room. Sees a silhouette of a person in his darkened room. In a panic, he scrambles away, causing injuries to his body and mind. Bam. Lawsuit. The twist?

The “person” he saw was a mannequin, part of room decorations in a Planet Hollywood casino-hotel with 2,500 rooms. Here’s where umbrella coverage comes in to cover expenses above and beyond standard insurance limits for liability claims.

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BBQ Safety
Community Associations, Risk Insight

Kick Off the Summer with Grilling BBQ Safety Tips

Memorial Day weekend traditionally kicks off the summer with family and friends gathering for some fun in the sun, pool action, and grilling. There’s no better time than now to freshen up on grilling safety tips (May happens to be National BBQ Month). According to the U.S. Fire Administration, about 5,700 grill fires take place on residential property every year, causing an annual average of $37 million in damage, 100 injuries and 10 deaths. In addition, thousands of people visit emergency rooms every year because they have burned themselves while barbecuing.

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HVAC
Risk Insight

How Well Do You Know Your HVAC?

There’s nothing better than escaping a summer heat wave in your nice, cool, air-conditioned room. Well done, HVACs! There’s nothing worse than an entire building sweating it up when the HVAC breaks. Yeah sure, there are worse things, but for the sake of comfort and safety, let’s address the health of HVACs to keep everyone as cool and collected as possible this summer.

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liability verdict
Hospitality & Restaurants, Risk Insight

$160+M Vegas Hotel Nightclub Liability Verdict Shows How High the Stakes Are

When New York City billion-dollar hedge fund manager David Moradi decided to hang at The Cosmopolitan’s Marquee nightclub, he didn’t expect to end up suffering a traumatic brain injury. This is exactly what happened when an issue occurred over a $10,000 bill David racked up at the nightclub. According to his claim, the Marquee security “assaulted, battered and falsely imprisoned him” while they demanded his ID and credit card to confirm his signature on the paid bill.

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Risk Retention vs. Risk Purchasing
Insurance Made Easy, Risk Insight

A Look Inside: Risk Retention vs. Risk Purchasing

Alternative risk mechanisms are available to help businesses address and manage their risks. This includes setting up risk retention groups (RRGs) and risk-purchasing groups (RPGs), which are often mistaken for being the same thing. While there are similarities between the two – both require members to be homogeneous and both provide liability insurance under the 1986 Federal Liability Risk Retention Act (LRRA) – they are quite different.

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Pool Safety
Real Estate, Hospitality & Restaurants, Community Associations, Risk Insight

Pool Safety: Pool Drownings Can Happen in A Flash

More than 3,500 people – many of them children – drown each year in the U.S. and many more suffer serious, irreversible injury in near-drowning incidents, according to the Centers for Disease Control and Prevention (CDC). Furthermore, for every fatal drowning incident involving a child 14 years old or younger, three children require emergency room treatment for submersion injuries and 40% of those require hospitalization, says the CDC. Non-fatal incidents can cause brain damage that results in long-term disabilities ranging from memory problems to the victim being left in a vegetative state.

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cyber insurance
Hospitality & Restaurants, Risk Insight, Cyber Liability

Why Hotels Need Cyber Insurance, Coverage Not Available Under CGL

Having a separate Cyber insurance policy is vital to corporations that store any sort of customer data. Too often businesses mistakenly believe that their Commercial General Liability (CGL) insurance will respond in the event of a data breach. This isn’t so as reflected by the latest case involving a Florida hotel group looking to its CGL policy to reimburse $2.4 million in fines and other related costs as a result of a data breach back in 2016. The carrier, Connecticut-based St. Paul Fire & Marine Insurance Company, a unit of Travelers Cos Inc., denied coverage and has requested a declaratory judgment that it is not liable for the data breach under the insured’s CGL policy. Data breach losses, the carrier stated, are not as a result of “bodily injury, property damage, personal injury, or advertising injury under the policy” – exposures covered under the CGL.

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boat accident
Hospitality & Restaurants, Risk Insight

Hotel Property Faces $4M Lawsuit After Boat Accident Injures Employee

You can imagine the scene: It’s the end of a long and hardworking summer season for managers at a trendy hotel on New York’s Shelter Island. They decide to celebrate by taking a friend’s fishing boat over to one of the local restaurants. On the way back, one of the managers at the helm of the boat, after drinking too much, crashes into the dock at the hotel property. A colleague gets injured in the boat accident with two broken bones in her leg, leaving her unable to properly walk since the accident occurred last September. The hotel is hit with a $4 million lawsuit as the accident occurred on its property – even though the employees were not working and the hotel did not own the boat.

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large claims losses
Real Estate, Hospitality & Restaurants, Community Associations, Risk Insight

The Skinny on Having Higher Umbrella/Excess Liability Limits

The industry sectors we insure are big businesses in the U.S. For example, revenue in the hotel industry across more than 52,000 properties is estimated at $189-plus billion. This includes everything from limited service hotels to luxury full-service hotels and resorts. The restaurant industry boasts $1 million-plus locations representing 10% of the workforce with revenues of $799 billion. The community associations and the real estate sector are huge markets as well. Each of these niche markets require a total insurance solution to protect against an extensive list of exposures, including the potential for large claims losses, underscored by the examples of top verdicts provided by the National Law Journal.

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