Hotels, motels, restaurants and resorts are subject to an array of perils and exposures including trips and falls, theft, alcohol-related accidents, natural disasters and cybersecurity breaches. With a multitude of people visiting and working at these properties daily, insurance is crucial, although it can be complex to navigate and represent a substantial business expense.

Like other sectors, hospitality is impacted by losses related to increased natural disasters, increased costs, a rise in litigation and the lingering impacts of COVID-19. Many insurance carriers have been evaluating their participation in the hospitality market, resulting in reduced capacity and double-digit rate increases.