Consensus is building on the need for longer business interruption indemnity periods for hospitality sector
While a 12-month indemnity period is the industry standard, in reality, it often takes anywhere from 18 to 24 months, or even longer, for hospitality businesses to fully recover from an insured event and resume operations
While the risks faced by businesses in the hospitality sector remain relatively stable, the time needed to recover and restore operations to pre-loss conditions is frequently underestimated
