Airport Insurance Coverage and Risk Management Practices (2011) / Chapter Skim
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Pages 12-14
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From page 12... ...
Smaller airport operators tend to competitively procure broker services contracts less frequently than large or medium airport operators. A strong majority of large and medium airport operator respondents competitively procure broker services contracts every 3 to 5 years, whereas all small airport operator respondents competitively procure their broker services no more frequently than every 5 years.
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From page 13... ...
Another indicated that coverage selection or shopping is dependent on preliminary renewal pricing and coverage terms. Although three of the six large airport operators shop every 3 years, medium and small airport operators tend to shop annually.
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From page 14... ...
Small and medium airport operators also find common ground in their tendency to shop coverage more frequently than large airport operators. Although the small and medium facilities indicate program shopping once per year, larger facilities are in the practice of locking in rates for long-term programs with their chosen insurance carriers.
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