Special Weather Products: ACE EVAC

The Challenge
An owner of several hotels along the Florida East coast has several peak weekends booked during the summer with expected travelers. If a hurricane develops off the coast that caused the local government to issue a mandatory evacuation resulting in the evacuation of hotel guests, the owner loses out on expected profits during the evacuation.

The Solution
ACE EVAC policy is designed to cover the evacuation of the hotel property and compensates the hotel chain for its loss of income during the evacuation.

Features*

• Policy Terms –
  • Coverage starts when the specified civil authority initiates a mandatory evacuation due to a hurricane. Coverage ends when the civil authority lifts the evacuation or the maximum term is reached.
  • It is unnecessary to have property damage.
  • Excludes named storms at time of policy inception.
• Policy Limits – Up to $250,000 limit per location.
• Minimum premium is $2,500.
• Quote Lead Time – 24 hours.
  • Simple and efficient claims process.

*subject to policy terms and conditions.