Posted in News on 17 Jun 2019

We are pleased to have bound a sizeable coinsurance share with Zurich, the HOOP capacity provider, for a USD $500m valued hotel chain in Mexico with assets across the country including in Cabo San Lucas, Cancun, Puerto Vallarta and the Riviera Maya. The policy is for All Risks including Windstorm, along with sub-limited coverage for Landscaping and Goods in the Open.

Adam Bragg, Head of Latin American Property commented:

“ Following a few months of negotiations with Zurich UK, we are extremely excited to have bound our first Latin American Hotel Group Property Reinsurance under the HOOP facility. We hope the income to Zurich of nearly a quarter of a million dollars will set up a good platform for future business development and that our success in this case will help to encourage our clients in the region to provide plenty of opportunities for us to submit to the facility”

Alesco Risk Management Solutions, a leading London market insurance broker, has over 20 years’ experience of working with major hotel chains and helping them in providing unique risk management and insurance solutions.

We have worked alongside some of the major hotel chains to design and create insurance products that satisfy the requirements of the franchise agreement, while at the same time being highly competitive on price and accessible via an online platform. Having worked alongside some of the biggest hotel chains through their franchising journey, we are ideally placed to provide innovative, efficient and competitive insurance and risk management solutions for hotel chains and their franchisees.

In 2014 we negotiated a specific insurance facility covering Comprehensive General Liability, which not only meets the franchise agreement requirements, but is also highly competitive on premiums. Not only have we negotiated both coverage and pricing but we have also launched the product on a bespoke online platform.

In 2018, we broadened the product options to include a Property Damage and Business Interruption product, which includes Terrorism Coverage. Franchisees will soon be able to access additional coverages such as Reputational Harm, Market Risk Insurance and Cyber. Our team also offers a range of risk management solutions for our clients to support them in managing the workload of tracking franchisee compliance with contractual requirements. For example, our Compliance Tracking platform helps hotel risk management departments in understanding which franchisees are non-compliant and helps reduce the administrative compliance workload.

 
About Alesco
    
 
Alesco is a specialist insurance and risk management business located in the heart of the City of London. Founded in 2008 by a team of experienced professionals, we provide a wide range of risk-management services and insurance solutions which are fundamental for protecting organisations. We work closely with underwriters in the London markets, in key global insurance centres, and with local broking partners in 150 countries.

 		   

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