Professional Liability Insurance Services announces first ever "Bed Bug" Policy

Nassau Bahamas - June 9, 2011 (www.hospitalitybusinessnews.com) Bed bug infestations are becoming a national epidemic, racking up expenses and devastating profits.  Professional Liability Insurance Services, Inc. – Underwriting Facilities is introducing the first business interruption and extra expense coverage for bed bug infestations for lodging facilities.

Policy Features:

-          No waiting period for policy triggers

-          Up to 6 month period of restoration available

-          NO DEDUCTIBLE for all expenses except Decontamination Expenses (coinsurance applies for decontamination expenses)

-          Loss of Lodging Revenue

-          Rehabilitation Expenses:

o   Marketing

o   Overtime of regular staff

o   Other mitigation expenses

-          Third-Party Remediation Expenses:

o   Customer decontamination expenses

o   Onsite customer first aid

-          Extortion Payments

-          Decontamination Expenses (affected lodging room and lodging rooms immediately adjacent to the affected lodging room)

o   No co-insurance for first $5,000, then 10% co-insurance applies

-          Immediate and expert crisis management from Specialty Risk Management, Inc.:

o   24/7 customer hotline

o   Assistance with regulatory authorities and requirements

o   Marketing and media control

o   Preventative resources (bed bug prevention checklists, informal questions, etc.)

More information can be found by contacting your insurance agent.