Willis North America Offers Bed Bug Insurance
- Jun 28, 2011
New York–The bed bug epidemic continues to cause problems for property owners, and the liability landscape continues to evolve. Bed bug infestation incidents have given rise to a range of allegations and claims including bodily injury, property damage and mental anguish. Hotel and residential real estate companies involved in a bed bug outbreak may incur costs to remediate the infestation, suffer revenue loss, and incur expenses associated with managing the crisis, as well as brand damage.
Because most standard property and casualty insurance policies provide little, if any, coverage for this exposure, Willis has introduced Bed Bug Infestation Recovery Insurance (BBIR). Developed in collaboration with Lago Vista, BBIR offers a comprehensive risk management and insurance solution that extends coverage beyond what is generally available under standard property and liability policies.
The rang e of coverage includes cost of decontamination services; cost of rehabilitation expenses; loss of profit due to business interruption; crisis management services, including a 24/7 hotline and expert operating teams to coordinate with regulatory authorities, public health authorities, customers, employees, and media; risk control techniques; and decontamination services provided by pest control specialists such as Orkin, LLC.