InsuraGuest Expands Its Insurance Coverage to Include Whole Hotel Premises
Vancouver, British Columbia–(Newsfile Corp. – January 27, 2021) – InsuraGuest Technologies, Inc.® (TSXV: ISGI) (OTCQB: ISGIF) (“InsuraGuest” or the “Company”), through its wholly owned U.S. subsidiary InsuraGuest, Inc. (“ISG”), is proud to announce it has expanded its Hospitality Liability coverages to include accidental medical incidents occurring anywhere on a hotel’s premises. In addition to coverage already available for incidents in a guest’s own room, the expansion will now further protect hotels from claims made by guests should an accident occur anywhere else on the hotel premises; for example, at the pool, in the hotel gym or in the hotel parking lot.
A considerable portion of a hospitality operator’s claims come from small property or medical claims that are frequently applied to the general liability policy. This high frequency in claims drives up premium prices. The InsuraGuest solution transfers the risk from the hotel or vacation rental operator by having guests pay a nominal fee per night. InsuraGuest then pays out coverage for these small claims, preventing impact to the hotel or vacation rental operator’s general liability policy.
“This expansion of our Hospitality Liability coverage to include hotel protection for guest accidents on hotel premises further advances InsuraGuest’s mission to help hotels significantly lower their risks and reduce claims made to their GL policies,” states Douglas Anderson, chairman and CEO of InsuraGuest Technologies, Inc.
InsuraGuest is an insurtech company that utilizes a proprietary software platform to deliver specialized Hospitality Liability coverages to member hotel or vacation rental properties. With InsuraGuest custom coverages, properties benefit from an additional layer of protection should a guest experience an accident, in-room property damage, death and dismemberment or theft while staying at an InsuraGuest-covered hotel property.
Property Management System Integration
InsuraGuest now integrates with 82 different property management systems through its proprietary API, which enables an organization to transfer certain liability exposures to the InsuraGuest carrier. By transferring certain liabilities to InsuraGuest Hospitality Liability coverages, the covered hotel or vacation rental property can lower its claim ratio and risk profile, which may decrease the property’s general liability premiums.
Created specifically for InsuraGuest, the Hospitality Liability policy is issued by InsuraGuest Risk Purchasing Group, LLC, and is administered by InsuraGuest Insurance Agency, LLC. CA / LIC: 6001686
InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance
InsuraGuest Technologies (TSXV: ISGI) (OTCQB: ISGIF) is an insurtech (insurance+technology) company that is disrupting the insurance landscape by utilizing its proprietary software platform to deliver digital insurance to multiple sectors. We are transforming the way insurance is delivered with the revolutionary idea that insurance should be bought, not sold.
CA / LIC: 6001686