Monthly Archives: April 2019

28 April 2019, Insurers respond to hotel bombings in Sri Lanka, with Matt Wills, Senior Insurance Advisor

Insurers are making initial moves to analyze damage done and calculate payouts at three of the four hotels that were bombed on 21 April, Easter Sunday in Colombo. (Three churches were also bombed.) The fourth hotel is a guest house, and so far, there has been no mention of its insurance claims status. Regarding the Shangri-La Hotel Colombo, The Sunday Times reported that Sri Lanka-based Ceylinco General Insurance, along with Chubb – the insurers who cover Shangri-La hotels in Sri Lanka and the Maldives – went to the hotel within a few hours of the initial attacks to begin the claims process. Then, on 22 April, adjusters visited the hotel for a more comprehensive site inspection. Later, on 25 April, Ceylinco paid a US $1 million advance to the Shangri La so it could begin cleanup, temporary repairs, and tend to related crisis … Continue reading

Draft data points on Sri Lanka’s Easter hotel and church bombings, 21 April 2019

Reporting from the BBC, Reuters, and scores of other outlets said at least 11 terrorist bombs exploded in Sri Lanka on 21 April, hitting multiple targets. Seven of these were direct attacks against specific targets – three churches, and four hotels – and three appeared to be from law enforcement operations aimed at apprehending suspects or blowing in place bombs that authorities had discovered. The situation in Sri Lanka is highly fluid with new, highly significant data points developing every 12-24 hours. This is likely to continue for at least one more week, and possibly longer. No analyses presented here, then, should be considered definitive, but the information is, nevertheless, quality enough to be acted on for near term risk reduction. Muir Analytics will update its reporting at the appropriate juncture. Main details of the bombings Reuters said the direct attacks were carried … Continue reading

Adjua Fisher for Risk and Insurance magazine discusses active shooter insurance – relevant for hotels

Adjua Fisher, on 1 March 2019, wrote the informative article, “Is Active Shooter Insurance Becoming a Risk Management Necessity?” for Risk and Insurance. In the article, Fisher asserts that, out of 500 workplace homicides in 2016 in the US, close to 80 % resulted from shootings. Fisher goes on to say that, “Active shooter insurance, also known as ‘active assailant insurance,’ is a type of gap coverage used to supplement general liability insurance, covering unexpected expenses stemming from a shooting, like funeral costs, death benefits and more.” Such insurance is becoming more common because of the above cited statistics. Muir Analytics collects hotel violence data from all over the world, and it has multitudes of hotel shootings in its database ranging from Southeast Asia, the Middle East, Europe, and Latin America. The US, however, has more hotel shootings than any other country, all of which are … Continue reading