Ashford Hospitality TrustIn 2006 and 2007 Ashford Hospitality Trust, a leading real estate investment trust (REIT), was experiencing significant growth. Anticipating yet another acquisition, Ashford’s new risk manager wanted to reposition their property portfolio within the insurance marketplace, which in turn would enable the company to secure a more competitive property program from leading insurance carriers.

For Ashford’s growing business, it was critically important to be able to quickly and easily add property already under ownership to its insurance program, as well as

add any new acquisitions. Ashford sought a partner who not only had global property expertise and relationships with carriers but who could bring an innovative approach to evaluating and securing insurance coverage. Ashford found that partner in Aon.

Working closely, Ashford’s risk management team and Aon property experts from the U.S., Bermuda and London developed a customized insurance program designed specifically for Ashford’s unique needs. This included leveraging Aon’s proprietary natural catastrophe modeling capabilities, which gave the team insight into the specific risk impact of every property

in Ashford’s portfolio. This data proved to provide significant leverage with the underwriters and allowed Ashford to evaluate more appropriate limits

and achieve improved pricing than previously available.

With Aon, Ashford was able to improve efficiency and add value to its business that can help them meet their long-term strategic goals.

Phil Flanary Vice President, Risk Ashford Hospitality Trust