It was only a matter of time and I’m surprised that it didn’t come sooner. Two different companies are now offerring bed bug insurance for hotel/motel ownes, universities, and landlords. Willis North America and Aon Risk Services are now offerring seperate lines of this specialty insurance.
I have yet to get ahold of a policy to see what it covers and what it excludes but from some articles that I just read in the Baltimore Sun, LA Times, International Business Advisor, the Willis North America coverage includes decontamination services, rehabilitation expenses, lost profits due to business interruption, crisis management (24/7 hotline), corrdination wth regulatory authorities, risk control and prevention. Here is a News Release on the new insurance from Aon.
Apparently a NJ university and an Oklahoma hotel have already purchased the insurance.
I know of some large multi-unit apartment owners that have spent thousands on trying to rid themselves of bedbugs – this insurance might be appealing to them.
Let me know if you or anyone you know has a copy of such a policy, I would be interested in reviewing it.
Don’t let the bedbugs bite.