Toronto, ON (Nov. 26, 2021) – Totten Insurance Group is pleased to announce the Pandemic Revenue Protector Insurance Program for the hospitality industry, developed by Totten Insurance Group to enhance the value of Business Interruption coverage for businesses with exposure to forced closure by a government authority in the Hospitality sector.
The program provides dedicated limits and is designed to respond first to any revenue loss as a direct consequence to a forced closure due to a public health emergency of international concern. Each participating entity has its own choice of limits of liability up to a policy maximum, which is driven by calculated business revenue.
With being rated as a class “A” product by A.M. Best’s Guide and Standard & Poor’s rating system, Pandemic Revenue Protect is the most accessible policy available in the Canadian marketplace which is exclusive to Totten. “We are delighted to bring this new and innovative product to the Canadian marketplace. Totten continues to expand our product suite in our ongoing efforts to deliver more value to our broker partners and industries that we insure” says Totten’s Chief Operating Officer and Executive Vice President, Paul Meinschenk.
Covid-19 is an excluded peril today and as the effects of the current pandemic reduce, we expect Covid to become a covered peril in the future. However, with the Hospitality industry having had one of the worse setbacks in recent years; this is a coverage that insureds should consider purchasing to be protected from future outbreaks. The potential for this product to expand to other industries in the near future is extremely likely.
Zena Nucifora, Hospitality Manager
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Totten Insurance Group, Canada’s leading national MGA provider of niche products and innovative solutions. With customized wordings to meet your specific needs, we are committed to delivering best in class insurance solutions that are not readily available in the market. For more information, visit www.tottengroup.com.
SOURCE: Totten Insurance GroupTags: coronavirus, epidemic, launch, Totten Insurance Group