Establishing a Property Loss
Response Program:
Hospitality and Lodging
Industry
Wednesday April 30, 2014
9:00am – 11:00am
IND005
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• David Mims – Senior Vice President, Risk
Management, LQ Management LLC
• John Wink – Senior Vice President, Alliant
Insurance Services
• Kenneth Ritter – Principal, Quantum Global
Advisors, LLC
• Stacy Mazur – CEO / President, Interstate
Restoration
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Presentation
Goals
To keep everyone
awake!
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 Understand the importance and key
components of a Property Loss
Response Program
 Establish internal and external claim
handling procedures
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Why develop and implement a
Property Loss Response Program?
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“Well begun is half
done.”
- Aristotle
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Functions / Benefits of a Program
Provide control in the chaotic aftermath of a loss
Organizational
Informed decision making
Manage insured’s concerns & needs
Physical
Facilitated repairs & expedited resumption of operations
Coordinated claim process
Claim
Efficient collection & exchange of information
Effective & timely claim resolutions
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Pre-Loss Planning
1
2
3
• Identify & Address
Underwriting Needs & Priorities
• Establish the Response Team
• Develop Procedures
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Underwriting Needs & Priorities (Pre-Loss)
Coverage
Forms
Accurate
Schedule of
Locations /
Values
Build insurer
& adjuster
relationships
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Recording of this session via any media type is strictly prohibited.
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Pre-Loss Planning
1
2
3
• Identify & Address Underwriting
Needs & Priorities
• Establish the Response Team
• Develop Procedures
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Response Team (Pre-Loss)
Establish
insured’s internal
Response Team
Select external
team members
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Example of Internal Team
General
Counsel
Operations
Fire
&
Life Safety
Facilities / Asset
Management
Regional Asset
Managers
Risk
Management
Accounting
Purchasing
Hotel
Management
Architect &
Design
Energy
&
Lighting
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Example of Property Loss Response Team
Insured Risk
Management
Insured
Internal
Departments
Broker
Claim Consultant
Insured’s
Experts
Insurance
Carrier(s)
Adjuster
Insurer’s
Experts
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Pre-Loss Planning
1
2
3
• Identify & Address Underwriting
Needs & Priorities
• Establish the Response Team
• Develop Procedures
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Develop Procedures (Pre-Loss)
Facility Level
Communication Protocol
• Internal & External
Business Needs
• Employees & Guests
Insurance Claim Requirements
• Documentation & Cost Tracking
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U.S. Disaster Risk Map
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What Types of Incidents Can You
Prepare For?
River
Flooding
Wildfires
Winter
Storms
Hurricanes
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Post-Loss Response
1
• Mitigate Damage & Stabilize Asset
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Mitigate Damage & Stabilize Asset
• Assessment from site
• Logistical challenges
• Obtain & review COPE data
• Temporary repairs
• Other points to consider
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Post-Loss Response
1
2
• Mitigate Damage & Stabilize Asset
• Assess Damage & Repair Asset
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Damage Assessment & Repair of Assets
Comprehensive site inspections
Coordination with insurer reps
Organization & analysis of claim
information
Coordination of property loss with BI
analysis
Consider opportunity for elective
changes
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Post-Loss Response
1
2
3
• Mitigate Damage & Stabilize Asset
• Assess Damage & Repair Asset
• BI Considerations
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BI Considerations
> Explore creative ways to mitigate BI loss
* Explore use of other company-owned facilities
* Provide incentives to maintain business
* Partner with other hotels
•
> Public relations campaign / advertising
> Track cancellations / walked guests
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Post-Loss Response
1
2
3
4
• Mitigate Damage & Stabilize Asset
• Assess Damage & Repair Asset
• BI Considerations
• Resolve Claim
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Claim Resolution
• Manage expectations
• Facilitate exchange of
information
• Maintain open dialogue with
insurer
• Partial adjustment &
payment of claim
• Develop exhaustive claim
document
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Recording of this session via any media type is strictly prohibited.
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Questions? Contact Us!
•
David Mims – Senior Vice President, Risk Management, LQ
Management LLC David.Mims@LaQuinta.com
•
John Wink – Senior Vice President, Alliant Insurance Services
jwink@alliant.com
•
Kenneth Ritter – Principal, Quantum Global Advisors, LLC
kritter@quantumglobaladvisors.com
•
Stacy Mazur – CEO / President, Interstate Restoration
stacym@interstaterestoration.com
Recording of this session via any media type is strictly prohibited.
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EVALUATE US!
Don’t forget to Rate this
Session on the RIMS ’14
Mobile App!!
The app is available on iPhone
(including iPad and iPod
Touch), BlackBerry and Android
mobile devices.
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