King Jeremiah

📈 Hotel insurance premiums have significantly increased, affecting property, liability, umbrella, workers' compensation, and cyber lines. Owners must audit their coverage, focusing on replacement cost valuations and business interruption limits due to rising construction costs and extended supply chains. Standalone policies for cyber liability and communicable diseases are crucial. Periodic stress-testing of coverage gaps and proactive cost management can influence terms and pricing. Tailored coverage based on property type and annual reviews are essential strategies for asset protection.