The hospitality industry faces a new and growing world of risk. Though travel and dining remain popular public pursuits, the industry is struggling with pressures from the marketplace and an uncertain global political landscape, as well as with perennial concerns, such as employee turnover and skyrocketing operating costs.
Marsh's Hospitality Practice provides a client-focused, consultative approach that combines comprehensive business analysis and risk assessment with traditional transactional options. We are the leading provider of hospitality risk management solutions, serving clients across all sectors of this dynamic industry, from fast-food to fine dining, and from bed and breakfasts to resorts and gaming facilities.
Marsh's approach to hospitality risk management has five key components:
- Understanding the risks of the industry, our clients' needs and expectations
- Identifying and analyzing clients' overall business risk profiles so that key risks, regardless of their source, are identified and prioritized for senior management
- Evaluating and designing effective approaches to managing the business risks associated with your company
- Executing an insurance and risk management program that supports your needs, objectives, and expectations and
- Measuring and monitoring the performance of the program and the Marsh service team to ensure continued effectiveness
From industry-dedicated risk consulting services, to our comprehensive hospitality Business Risk Needs Assessment (BRNA), Marsh offers a variety of leading-edge consultative risk management tools and techniques, including:
- Emergency preparedness planning - forward-looking solutions to help avoid the need for costly recoveries;
- Industry-leading, hospitality-specific risk and claims management manuals that can be tailored to the client's unique needs;
- Department-specific safety and regulatory training programs;
- Environmental consulting;
- Terrorism and workplace violence risk consulting;
- Dimensions™ - a program designed to help businesses measure workers' compensation program performance; and
- TrendTracker™ - auditing software that automates hospitality claims audits and safety inspections with sophisticated Web-based reporting and action plan tracking capabilities.
Hospitality companies are exposed to changing strategic, financial, legal, operational, and hazard risks. All risks, regardless of their source, must be effectively managed to protect the health and safety of guests and employees, as well as the assets of the company. Marsh consistently helps its clients meet these challenges.
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