According to a survey released earlier this year by the National Pest Management Association, one out of five Americans has had a bed bug infestation in their home or knows someone who has encountered bed bugs at home or in a hotel. In response to the growing bed bug epidemic, Aon Risk Solutions, the global risk management business of Aon Corp., has aligned with Global Excess Partners and Terminix, to unveil a bed bug insurance product for hotels, landlords, student housing, corporate businesses and leisure travelers.
This suite of products offers a pest management approach to specifically target bed bugs and combines insurance coverage with Terminix’s specialist bed bug elimination resources to deliver cost savings and greater budgetary certainty while treating and protecting premises.
Previously, the cost of bed bug elimination and replacement of infested property was excluded in property insurance policies, and only those hospitality companies with loss of attraction coverage on their policies had any protection for lost business resulting from taking rooms out of service. Most bed bug-related expenses were unplanned cost items paid out of pocket.
This new suite of products includes the following, subject to policy limits, terms and conditions:
- Insurance to cover the cost of bed bug elimination
- Insurance to recover lost revenue resulting from taking rooms out of service during bed bug elimination
- Reduced need to destroy room contents; in many situations, contents can be successfully treated rather than destroyed and replaced
- Bed bug management approach that includes a new, non-toxic elimination treatment that can return a room to service in five days or less
- Discounted rates for mattress encasements and bed bug kits for greater peace of mind
- Tips to prevent further outbreaks