Caribbean Hotel Insurance Rates to Increase by 10 to 40 Percent
Caribbean hoteliers should plan now for an increase in insurance premiums anticipated to range from 10 to 40 percent following two Category 5 hurricanes, which struck several destinations in the region in September.
Scott Stollmeyer, Managing Director, Barbados and Eastern Caribbean for CGM Gallagher Insurance Brokers, made the recommendation during a Caribbean Hotel and Tourism Association (CHTA) webinar earlier this month entitled ‘Hotel Property Insurance After the Storms’.