INSURANCE - A RISK COVERING STRATEGY

Abstract

Insurance industry in Romania is facing for a few years a continuous decreasing in Gross Written Premium. The negative trend may be caused by the effects of financial crises for companies and also for individuals. In order to keep theirs market share, insurance companies must identify new opportunities to increase theirs’ GWP. Among these new market niches hospitality industry may represent an option to be followed. In this paper, we will analyze the types of insurance policies available for hospitality industry (except mandatory motors’ third party liability and motors’ own vehicle insurance). The conclusion represents solution both for insurance companies and for hotel as a part of theirs’ risk financing process.

Keywords

• Insurance
• Hospitality Industry
• Risk
• Property
• Liability