Insurance Program Results
September Data Breaches: Hospitality Industry Hit
Crittenden expects an increase in the purchasing rate of cyber policies in the hospitability industry after about a dozen data breaches were reported at hotels and restaurants during last quarter, with two in September reported by Trump International and Hilton Hotels. Half of these breaches involved malware installed onto point-of-sale devices. Data breaches can be particularly damaging to a hotel or restaurant chain because of the increased publicity these businesses often get compared to small Main Street companies. The recent move toward EMV cards may make the theft of payment card information more difficult and reduce the number of events. This will also increase the level of liability for those businesses that do not use POS machines equipped with EMV chip readers. The handful of hospitality breaches reported last quarter involved the dumping of paper records that revealed personal information of current and former employees, a type of breach that has been more common in healthcare.
Because EMV chips only protect cards from physical POS transactions, cyber criminals will likely set their eyes on online transactions and online businesses that store a lot of user data. Last quarter, the e-commerce industry reported 20 breaches, almost all of which involved hackers or unauthorized access. All e-commerce and web industries will be vulnerable to a breach, especially small sites that may not have the necessary network and privacy security controls in place at larger online business such as Amazon or EBay.
This could be problematic for smaller businesses since the cost of a breach can quickly escalate. One such breach reported last month at the vacation rental payment site YapStone resulted in a lawsuit a week after the report went out. The most prominent online breach occurred in July at the dating website Ashley Madison, involving millions of users’ information. This breach resulted in not only bad press for the company but also raised third-party liability stemming from the release of highly sensitive information about who used the supposedly confidential site. The legal ramifications stemming from the Ashley Madison breach will more than likely result in a large class action lawsuit that could set precedents in the industry over how a company stores and protects user data.
Copyright © Crittenden Research Inc., October 12th, 2015
Beazley Breach Response Select
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Accountable Care Organizations (ACOs), Acupuncturist, Allied Health, Art Galleries/Fine Art/Museums/Antique Dealers, Assisted Living Facilities, Chiropractors, Civic Clubs (Nonprofit), Colleges & Universities, Continuing Care Retirement Communities (CCRCs), Day Spas, Dentists, Education & Nonprofit, Emergency Response Services (Ambulance), Gastroenterologist, Health Maintenance Organization (HMO), Healthcare Systems, Hospice, Hospitality (Hotels/Motels), Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Independent Living Facilities, Laboratories, Lawyers, Long-Term Care Facilities (LTC), Managed Care Organizations, Massage Therapy/Therapists, Mental Health/Behavioral (Counseling/Counselors), Midwives, Non Emergency Transportation (Medical), Nurse/Staffing Registries, Nursing Homes/Skilled Nursing Facilities, Opticians, Pharmacies, Pharmacists, Physicians, Podiatrists, Private/Charter Schools, Psychiatric Facilities/Hospitals, Psychologists, Rehabilitation Facilities, Research/Research Organizations (Clinical, Etc.), Retail, Schools, Schools (Adult Education), Substance Abuse Rehabilitation Facilities & Services, Surgeons, Therapy/Therapists, Weight Loss Clinics |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Cyber Liability, Excess, Umbrella/Excess
Limits: up to $5 million
Philadelphia Hotel & Motel
Administered By: Philadelphia Insurance
Distribution: Carrier Direct
| Industries: |
Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Retail |
|---|
Carriers: Philadelphia Insurance Co.
Coverage: Auto Liability , Boiler & Machinery, Commercial Property, Crime, Directors & Officers (D&O), Employee Benefits Liability, General Liability, Liquor Liability, Premises Liability
Limits: up to $1 million/$3 million (General Liability )
Destination & Vacation Resorts
Administered By: K&K Insurance
Distribution: MGU
| Industries: |
Hospitality (Hotels/Motels), Resorts & Time Shares |
|---|
Carriers: National Casualty Co.
Coverage: Commercial Auto, Excess, General Liability, Property, Umbrella/Excess, Workers' Compensation
Limits: up to $100 million (Property ), up to $25 million (Casualty)
Enterprise PrivaProtector 9.0
Administered By: Ironshore
Distribution: Direct/Broker
| Industries: |
Consultants/Consulting Risks, Contractors, Financial Institutions, Healthcare Systems, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Public Entities, Retail, Technology Risks |
|---|
Carriers: Ironshore Inc.
Coverage: Business Income/Extra Expense, Cyber Liability, Data Security, Media Liability, Network Security Liability, Privacy Liability/Notification Expense, Regulatory Liability
Limits: up to $5 million
General Liability
Administered By: Rockhill Insurance Group
Distribution: Carrier Direct
| Industries: |
Builders Risk/Home Builders, Commercial Real Estate Manager/Director, Contractors, Directors & Officers (D&O), Equipment Rentals, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Rentals (Equipment), Residential Real Estate (Directors/Managers), Retail, Warehouses |
|---|
Carriers: Rockhill Insurance Co.
Coverage: Directors & Officers (D&O), General Liability
Limits: $1 million - $2 million
Property
Administered By: Rockhill Insurance Group
Distribution: Carrier Direct
| Industries: |
Commercial Real Estate (Office), Commercial Real Estate (Retail), Habitational, Hospitality (Hotels/Motels), Hospitals, Municipalities/Government Bodies, Nursing Homes/Skilled Nursing Facilities |
|---|
Carriers: Rockhill Insurance Co.
Coverage: Property
Limits: up to $20 million (Property All-Risk), up to $20 million (Excess), up to $20 million (Wind Only and/or Named Storm)
Real Estate Professional Liability
Administered By: Protective Specialty Insurance
Distribution: Carrier Direct
| Industries: |
Builders Risk/Home Builders, Commercial Real Estate, Contractors, Habitational, Hospitality (Hotels/Motels), Residential Real Estate (Directors/Managers) |
|---|
Carriers: Protective Insurance Co., Protective Specialty Insurance Co.
Coverage: General Liability, Tenants' Legal Liability
Limits: $250,000 - $5,000,000 (Aggregated Personal injury coverage Innocent insured coverage Punitive damages coverage Defense costs for discrimination liability: $100,000 (minimum) Lockbox liability: $10,000 (minimum) Failure to disclose pollutants coverage: $50,000 (minimum) Predecessor and successor firm coverage Mediation provision reduces retention Automatic subsidiary coverage Defense costs for licensing proceedings: $10,000 (minimum) Supplemental limit of liability for expense reimbursement of $250 per day with a $5,000 aggregate limit Automatic 60-day extended reporting period)
Specialty Property Program
Administered By: Blue River Underwriters
Distribution: Program Administrator
| Industries: |
Commercial Real Estate (Industrial), Habitational, Hospitality (Hotels/Motels) |
|---|
Carriers: Zurich
Coverage: Excess, Professional Liability, Umbrella/Excess
Limits: up to $2 Million (Excess ($1 Million per occurrence/ $2 Million aggregate) )
Property Program - Wind
Administered By: Core Programs
Distribution: Carrier Direct
| Industries: |
Commercial Real Estate (Office), Habitational, Hospitality (Hotels/Motels) |
|---|
Carriers: ACE Group
Coverage: Weather Insurance
Limits: up to $5,000,000 per location (Property)
Coastal Condo Hotel Motel Program
Administered By: NSM Insurance Group
Distribution: Program Administrator
| Industries: |
Habitational, Hospitality (Hotels/Motels) |
|---|
Carriers: AIG
Coverage: Commercial Auto, Crime, Equipment Breakdown, Excess, General Liability, Inland Marine, Property, Umbrella/Excess
Limits: up to $50 million
Employment Practices Liability
Administered By: Kinsale Insurance
Distribution: Carrier Direct
| Industries: |
Accountants & Accounting Services, Architects & Engineers (A&E), Art Galleries/Fine Art/Museums/Antique Dealers, Auto Service and Repair, Auto/Car Dealerships, Aviation Risks & Airports, Banks, Brokers/Dealers, Camps (Youth, Sports & Enrichment), Chemical Manufacturers/Distributors, Commercial Auto (Public Transportation), Construction Equipment/Machinery/Materials, Educational Risks (School Administrators), Energy Companies, Film Risks, Gas Stations, Hospitality (Hotels/Motels), Insurance Agents, Insurance Companies, Investment Advisers, Lawyers, Logging/Lumber/Forestry Risks, Manufacturers (Hardware), Manufacturers/Manufacturing Risks, Mine/Mining Risks, Miscellaneous Risks, Museums, Nonprofit Organizations, Real Estate Agent/Broker, Research/Research Organizations (Clinical, Etc.), Restaurants, Retail, Social Services, Utility Companies |
|---|
Carriers: Kinsale Insurance Co.
Coverage: Bodily/Personal Injury, Employment Practices Liability (EPL)
Limits: up to $5 million/$5 million (Primary Limits)
Excess Property
Administered By: James River Insurance Co.
Distribution: MGA
| Industries: |
Colleges & Universities, Commercial Real Estate (Office), Commercial Real Estate (Retail), Freestanding Medical Facilities, Habitational, Hospitality (Hotels/Motels), Hospitals, Manufacturers/Manufacturing Risks, Municipalities/Government Bodies, Nursing Homes/Skilled Nursing Facilities, Real Estate Owners, Schools, Warehouses |
|---|
Carriers: James River Insurance Co.
Coverage: Earthquake Liability , Excess, Flood, Property
Limits: up to $30 Million
General Casualty
Administered By: James River Insurance Co.
Distribution: MGA
| Industries: |
Adult Clubs (Gentlemen's/Strip Clubs), Apartments, Distribution Risks, Homeowners/Condo Associations, Hospitality (Hotels/Motels), Lessors Risk, Restaurants, Retail (Convenience Store), Schools, Schools (Vocational), Trucking (Freight), Vacant Property , Warehouses |
|---|
Carriers: James River Insurance Co.
Coverage: Casualty
Limits: up to $1 Million (Limit per Occurrence.), up to - $2 million (Aggregate - Per Location Aggregate available)
Hospitality
Administered By: Promont Advisors
Distribution: MGU
| Industries: |
Bowling Centers, Hospitality (Hotels/Motels), Restaurants |
|---|
Carriers: GuideOne Insurance Cos., Liberty Mutual Group, United Specialty Insurance Co.
Coverage: General Liability, Liquor Liability, Property
Limits: up to $5 million (Property TIV), up to $2 million (General Liability)
Lodging & Gaming Insurance
Administered By: McGowan Program Administrators
Distribution: Program Administrator
| Industries: |
Casinos, Hospitality (Hotels/Motels) |
|---|
Carriers: Chubb Group of Insurance Cos., Travelers Indemnity Co.
Coverage: Auto Liability , Employment Practices Liability (EPL), General Liability, Primary and Excess, Umbrella/Excess
Limits: $2 million - $225 million
Small Accounts - Casualty
Administered By: James River Insurance Co.
Distribution: MGA
| Industries: |
Artisan & Trade Contractors, Commercial Real Estate (Office), Contractors, Habitational, Hospitality (Hotels/Motels), Janitors/Janitorial, Laboratories, Landscape Design/Landscaping/Lawn Service, Lessors Risk, Restaurants, Retail, Vacant Property , Warehouses |
|---|
Carriers: James River Insurance Co.
Coverage: General Liability
Limits:
Standalone Terrorism
Administered By: XL Catlin
Distribution: Direct/Broker
| Industries: |
Hospitality (Hotels/Motels), Municipalities/Government Bodies, Private Companies, Public Companies , Public Entities, Retail |
|---|
Carriers: XL Catlin Insurance Co., Inc.
Coverage: Deadly Weapon Protection Liability, Terrorism
Limits: up to $200 million, up to $35 million (Active Assailant Insurance)
Workplace Violence and Stalking Threat
Administered By: XL Catlin
Distribution: Direct/Broker
| Industries: |
Colleges & Universities, Healthcare Systems, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Private Companies, Public Companies , Resorts & Time Shares, Schools |
|---|
Carriers: XL Catlin Insurance Co., Inc.
Coverage: Business Interruption, Legal Liability
Limits: up to $25 million
ACE Catastrophe Management 2.5
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Banks, Commercial Real Estate, Energy Companies, Financial Institutions, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks |
|---|
Carriers: ACE Group
Coverage: Accident & Health, Property
Limits: up to $2.5 million
ACE Express(SM) Umbrella
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Banks, Bowling Centers, Commercial Real Estate, Financial Institutions, Golf Courses/Country Clubs, Habitational, Hospitality (Hotels/Motels), Manufacturers/Manufacturing Risks, Restaurants, Retail |
|---|
Carriers: ACE Group
Coverage: Commercial Auto, Employee Benefits Liability, Employment Practices Liability (EPL), General Liability, Liquor Liability
Limits: up to $1 million (Employee Benefits Liability- aggregate), up to $1 million (Products-Completed Operations Aggregate), up to $2 million (General liability- aggregate), up to $1 million (Employee Benefits Liability- per occurrence), up to $500,000 (Employers liability), up to $1 million (General liability- per occurrence), up to $10 million (Up to $25 million available by referral to an ACE Excess underwriter), up to $1 million (Liquor liability)