The information below will enable Tokio Marine Kiln to provide a very rough indication of pricing for the Hotel Market Risk Insurance for your Client.
Name of Hotel
Address of Hotel
Insured Event occurs when the actual trade (measured in RevPAR) exceeds the selected threshold drop from the forecast trade in any given month or average over a three-month period i.e this is a
Parametric triggered insurance policy.
Reduction in RevPAR (Forecast VS Actual)
If an Insured Event occurs, TMK will indemnify the shortfall in Forecast EBITDA or guaranteed minimum lease agreement payment.
Please indicate RevPAR comparison period required to constitute an Insured Event
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Market Risk Insurance is a new type of insurance available from Alesco that covers all market risks that could affect a hotel's ability to trade, and that otherwise have historically been left uninsured. This product uses hotel market data to define the insured event which enables risks like Brexit, Terrorism, Chemical Spills, Cross Border Political Disputes and everything else which effects the market in which the hotel operates in, to be insured.
By market, we are referring to either a comparative set of local hotels or the city that the hotel is operating in. The policy is triggered if the difference between Forecast and Actual RevPAR achieved from the comparative set of hotels exceeds the set percentage threshold.