Hospitality Industry
You need a partner that can help you mitigate property and reputational risks and build your workforce with benefits that protect your margins and your people.
Building a Resilient and Safe Workforce in the Hospitality Industry
At NFP, our differentiator in human capital solutions is integration. We combine medical, Rx, ancillary, retirement, wellbeing, executive benefits and human capital strategies that work together to create resilient teams that deliver better service and reduce risk.
We don’t just design plans — we solve problems. We can help you by protecting your margins through managing healthcare and Rx spend in a low-margin industry, retaining top staff in a sector known for high turnover and burnout, building guest safety into workforce protection, navigating multi-state and international compliance for labor, liquor and wage laws and so much more.
We help hospitality and leisure businesses through:
Rx and Transparency Solutions
Many hospitality groups ignore drug spend in favor of focusing on base medical, but pharmacy is a rising cost center and a compliance risk.
Executive Benefits
Hotel managers, resort directors and culinary leaders are critical talent, but few groups use incentive or retention programs to secure them.
Ancillary Benefits
Disability, accident and hospitalization coverage are especially relevant in an industry prone to workplace injuries but often left out of standard plans.
Retirement and Financial Wellness
Hourly staff turnover is high, but long-tenured managers and supervisors are underserved when it comes to long-term planning support.
Wellbeing and Human Capital Solutions
Fatigue, burnout and high-stress environments impact both frontline staff and leadership. Wraparound wellbeing programs are rare but effective.
The Problem
A private high-end gated HOA with over 100 employees and a significant focus on recreational activities (including boating, golf, equine, restaurant, bar, shooting sports, upland hunting and a fitness facility) was unhappy with their incumbent broker. The organization was in coastal South Carolina, which contributed to challenging exposures. At the time of their renewal, their incumbent broker provided renewal details at the last minute and did not customize their human capital solutions or risk management strategy to meet the client’s needs.
The NFP Solution
NFP met with the client and prepared an outline of coverages and strategies and made suggestions to make midterm modifications of the current policy. The client wanted increased excess lines, which the NFP team successfully placed at half the premium of the incumbent's quote. Despite limited markets willing to provide insurance and an initial nonrenewal from their primary insurer, NFP was able to negotiate to keep the primary insurer for another year, ensuring coverage continuity and time for further marketing and strategy.
Protect your hospitality and leisure operations with tailored benefits and insurance.
Connect with an NFP specialist today.
Hospitality Industry Insurance and Risk Management
Hotels, resorts, restaurants, entertainment venues and leisure companies face dynamic operational, property, liability and cyber risks. NFP delivers tailored insurance and risk management strategies to protect physical assets, guests, employees and brand reputations.
We combine sector-specific knowledge with deep carrier access to help hospitality businesses operate securely and adapt to changing guest expectations through:
General Liability and Premises Liability
Protection against guest injury and third-party property damage claims.
Cyber Liability
Defense against breaches involving customer payment information, loyalty programs and reservation systems.
Property and Business Interruption Insurance
Coverage for facilities, equipment and income loss due to disasters or operational disruptions.
Employment Practices Liability (EPLI)
Protection against discrimination, harassment and wrongful termination claims from staff.
Liquor Liability
Protection for venues serving alcohol against alcohol-related incidents and lawsuits.
Crisis Management and Reputation Recovery
Coverage for PR expenses tied to adverse events impacting brand reputation.
The Problem
An operator and owner of East Coast hotels and restaurants was hit with an unexpected premium increase one day before their renewal by their incumbent broker. They hadn’t been informed of what limits they should be purchasing and were unhappy with their previous level of service.
The NFP Solution
The team stepped in to review the client’s current coverage and identified gaps to be corrected. In doing so, they discovered that the client hadn’t seen wind or hail modeling to validate what limit they should be purchasing. The team was able to find a level of coverage the insured was comfortable with that met all requirements and got the client an almost $200,000 reduction in premium.
“We help hospitality and leisure organizations create resilient teams and guest-ready operations. From the back office to the front desk, our benefit and risk management strategies address the realities of service-based workforces.”
Tom Boardman
Program Manager of Entertainment Risk
Our Expertise in Action
See how our experts are implementing solutions for today's risk, workforce, wealth management and retirement challenges.
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