Today, insurance retains its status as one of the key tools to manage risks inherent to owners and leaseholders of hotels, hotel complexes and hospitality infrastructure. The core elements of your business can be insured against any emergency and its consequences under Ingosstrakh’s special insurance program tailored to meet the insurance needs of hotels, hotel complexes and hospitality infrastructure.
Property insurance
Insurable objects
The object coverable under the insurance program is property owned, loaned or controlled under contracts of lease or otherwise:
Buildings and constructions, owned and/or rented premises;
Internal finishing of buildings and premises;
Engineering communications and installations (transformers, gas distribution, thermal plants, external piping, thermal and electric cable collectors and other similar equipment);
External constructions (lifting gates, awnings, window bars, fencing, barriers, checkpoints and other similar objects);
Process, shop fittings and equipment and other equipment; automated doors, elevators, escalators, travelators;
Electronic equipment (including computer hardware and office appliances, telephone switchboards and devices, other telecommunication equipment, cash registers);
Furniture, tools, inventory;
Cash in safe, special deposits, strong rooms; cash in hand;
Information carriers (PC and similar systems, i.e. magnetic tapes, cassettes, disks, memory banks etc.);
Advertising installations and signs;
You can also insure your company from losses resulting from the necessity to clear the territory, dispose of the garbage, tear down constructions and/or damaged property after an insured accident.
Insurable risks
Fire, thunderbolt, gas explosion
Explosion of support equipment
Property damage by water from water supply, sewerage, heating and automatic fire-suppression system
Natural disasters
theft, including unauthorized access and robbery
intended malicious action of a third party, including:
negligent destruction or damage or property (Art. 167 of RF Criminal Code),
hooliganism (Art. 213 of RF Criminal Code),
vandalism (Art. 214 of RF Criminal Code).
Collision with a road vehicle
Fall of a piloted aircraft and/or its pieces
Breaking of window glass, mirrors, shop windows
Damage of property in an act of terrorism.
Top-up cover
Some objects may be covered by an additional insurance against specific risks inherent to such objects only:
For basic equipment, engineering and other communications
Emergency breakdowns, defections
Human errors and negligence
Tow or chain rupture, fall of insured objects and their impact against other objects
Overload, overheat, vibration, fault, wedging, clogging of mechanisms, change of internal pressure, wear & tear of mechanisms, exposure to centrifugal force
Hydraulic impact and lack of liquid in boilers or equipment operating on steam or liquids
Exposure to electric short circuit, network overload, voltage loss, atmospheric disturbances
Failure or breakdown of add-on equipment, protection and adjusting devices
For computerized and other electronic equipment, corporate computer networks
Errors in the use and operation of electronic equipment
Negligence on the part of servicing/maintenance personnel
Exposure to electric current, amperage or voltage jumps in the grid, exposure to induction currents
Defection of materials, errors in the design, manufacturing process or in assembling/installation of insured objects
Emergency power outage (public power grid).
Business interruption insurance
This type of insurance is additional coverage to property insurance against fire and related risks and makes the Insurant eligible to indemnification of indirect losses incurred as the result of occurrence of an insured event with the insured property.
Insurable objects
Fixed costs that do not depend on the size of the turnover, including:
Payroll costs, including social charges
Amortization
Interest payable on bank loans
Taxes
Rent
Net profit (after tax)
Insured amount
The insured amount is calculated on the basis of book information of the business as average annual prorated to the indemnification period chosen by the Insurant.
Insurable risks
The insurance covers losses from lost rent or fixed costs incurred through suspension (interruption) of a business following loss and/or damage of insured property due to the occurrence of any insured event.
The insurance contract stipulates an indemnification period, i.e. the period from the date of the event resulting in business interruption, during which the Insurant is eligible to indemnification of the aggregate of fixed costs and net profit. The period is subject to the Insurant’s approval and usually is 1, 3, 6, 12, 18 or 24 months.
Insurance against loss of rent
This type of insurance is an extra coverage in addition to insurance of property against fire and related risks. It is used if the premises of a hotel are leased out and allows the owner of the hotel protect the business from losses through the loss of rental payments through the loss of opportunity to continue the lease of premises as the result of an insured event.
The insured object here is rental payments.
Insured amount
The insured amount is calculated as the annual average of the available contracts of lease and prorated to the indemnification period selected by the Insurant.
Insurable risks
Termination (suspension) of effective contracts of lease because of the destruction and/or damage of insured property caused by the effect of any of the events insured against.
The insurance contract stipulates an indemnification period, i.e. the period starting on the date of the event resulting in business interruption during which the Insurant will collect the indemnity of lost rental payments. The period is subject to approval by the Insurant and usually is 1, 3, 6, 12, 18 and 24 months.
Liability insurance
Hospitality industry and the business of hotels are inherently linked to the potential risk of damaging the property owned by the business as well as the property and health of a third party or personnel. To cover these risks, we recommend having a look at such type of insurance as:
Third party liability insurance:
This type of insurance assigns to Ingosstrakh all costs related to the Company’s liability to third parties, including visitors.
Insurable objects
Property interest of the Insurant as to the restitution of damages (pursuant to civil legislation) to property, life and health of third parties, including hotel Visitors and Clients.
Insured event
An event that is directly connected with the legal business that is the basis, pursuant to civil legislation, for lodging of claims by third parties, including Visitors and Clients, against the Insurant to restitute the physical and/or property damages caused by the Insurant.
Top-up cover
Liability for personal assets of Visitors and Clients
Liability for damages to life, health and personal assets of Visitors and Clients of restaurants, cafes and bars
Liability for damages to vehicles on the premises.
Employer’s liability insurance
This type of insurance enables insurants to assign to Ingosstrakh all costs arising out of the insurant’s liability to employees and officers.
Insurable interests
Property interests of the Insurant related to its liability to restitute the damages to life and health of employees and officers.
Insured event
An event that is directly connected with the business carried out by the Insurant, such business being legal by law, and which is the basis, by virtue of applicable civil legislation, for lodging of claims by employees and officers against the Insurant for the restitution of physical and/or property damages caused by the Insurant while the employee or officer was in the process of performing its functions.
Civil liability insurance of leaseholders of hotel premises
In this type of insurance, Insurants are leaseholders of hotel premises. This helps businesses ring-fence themselves from undesirable financial losses arising through the fault of leaseholders. All losses caused through the fault of leaseholders are indemnifiable by Ingosstrakh.
Insurable objects
Property interests of the Insurant arising in operation and use of the leased premises and connected with the liability to restitute the damages caused to the property loaned from the business, as well as life and health damages caused third parties.
Insured event
An event that is directly connected with the business carried out by the Insurant, such business being legal by law, and which is the basis, by virtue of applicable civil legislation, for lodging of claims by employees and officers against the Insurant for the restitution of physical and/or property damages caused by the Insurant.
Insurance of an operation – source of special danger
(compliant with Federal Law No 116-FZ dtd. July 21, 1997 “On industrial safety of production facilities"
This type of insurance covers liability in the operation of dangerous facilities in buildings (i.e. passenger elevators). This type of insurance is compulsory by law.
Insurable objects
Property interests of the Insurant arising out of its liability to restitute the environmental damages and damages caused to the property, life and health of a third party.
Insured event
Damage to life, health or property of a third party and environmental damages as the result of an accident with the dangerous facility operated by the Insurant as indicated in the insurance contract and confirmed by a respective resolution by court.
Our Contacts
If you have any question or need any additional information, please do not hesitate to contact our Property and Liability Insurance Department:
