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Member, Beacon International Group, Ltd.
CHICAGO—Aon Risk Solutions has formed strategic partnerships to provide the hospitality industry with insurance coverage for bedbug infestations.
The risk management unit of Chicago-based Aon Corp., along with New York-based managing general agent Global Excess Partners L.L.C. and Memphis, Tenn.-based Terminix International Co. L.P., say they have formed a strategic alliance to provide hotels, landlords, student housing and corporate businesses with a suite of products addressing bedbug infestations, Aon Risk Solutions said Monday in a statement.
The insurance combines pest management coverage for bedbugs with pest elimination resources provided by Terminix, according to the statement.
“The hospitality industry has been dealing with this unplanned, uninsured exposure for years, but never had a product to help manage its variability,” Nancy Green, executive vp for Aon Risk Solutions in Chicago, said in the statement.
Real estate, schools affected
“With the heightened awareness in the real estate and education sectors and the elevated concerns of business and leisure travelers nationwide, there has never been a more important time for the private sector to bring a comprehensive solution to the table,” she said.
The coverage is provided by Global Excess Partners, which has binding authority over six Lloyd’s of London syndicates.
The coverage includes bedbug elimination costs, bedbug management services and lost revenue resulting from out-of-service rooms, among others, according to the statement.
NEW YORK—The Waldorf Astoria is in bedbug hell. A rash of recent accusations from former guests of the hotel who say they were bitten while staying there will no doubt hurt business.