Posted on 30 Mar 2011
Mainstay Insurance Group has expanded its Program Division with the creation of insurance products and services specifically catered to the Hospitality industry. This new market appetite includes limited service, full service, upscale and luxury hotels and resorts in all 50 states, and will offer an innovative program to support the industry in its commitment to going green.
“The Hospitality industry is a natural fit for us,” said Mainstay President and CEO Dusty Rowland, “given our long history in building and managing programs for hotels, and the current strength and solid footprint of our existing real estate insurance programs. Hotels and resorts, while certainly unique in terms of exposure, ultimately fall within the real estate industry and cater well to our long-term strategy and value proposition.”
Mainstay’s Hospitality Program will offer industry-focused insurance for qualifying accounts generating a minimum of $10,000 in written premium. Available lines of coverage include: General Liability, Property, Liquor Liability, and Umbrella Liability with limit options from $5M to $100M. Supporting carriers are A-rated offering both admitted and non-admitted options.
What’s more, the addition of Hospitality to Mainstay’s Program Division is in synch with its dedication to the Green Movement and support of The Association of Green Property Owners and Managers (AGPOM). Mainstay is leveraging their exclusive insurance representation of AGPOM to drive hospitality growth in their real estate program. The program will not only offer a competitive insurance proposal, but also provide tools and services that help clients leverage the financial benefits of the Green Movement.
“When you look at what has taken place within the Green Movement in the past ten years or so with entrepreneuring hoteliers implementing conservation programs, as well as the boom of green, eco-friendly hotels, you see that this industry is at the forefront among the real estate segments in making significant strides in terms of capital investments and behavioral changes within their buildings and sites,” said Mr. Rowland. “Yet there are still many hotels and resorts looking for ways to get involved and go green. We see our program as an opportunity to offer them the same type of multi-faceted value the AGPOM platform offers property owners.”
To learn more about Mainstay’s Hospitality Program, contact Eric Arthur, Executive Vice President and head of product development, at 425-233-6463 or via email at email@example.com.
Mainstay Insurance Group is a program administrator and specialty wholesaler servicing the insurance and risk management needs of select industries and providing niche and association-based products. Its programs are available nationally and are distributed 100% through retailers.
The Association of Green Property Owners and Managers (AGPOM) is a 501(c)(6) non-profit organization that helps property owners and managers realize the value of environmentally friendly pursuits while offering incentives that stimulate participation. Its approach, which stems from a connection between "Going Green" and risk control, drives meaningful results using a straightforward strategy to "Greening" a business. Through AGPOM, members are able to leverage many "Green" benefits without making large investments in technology or manpower.