|
|
| July 10, 2025 City Council Regular Meeting | |
| Title 36. Approval to Purchase 2025-2026 Property Liability Insurance with Sterling Seacrest Pritchard Inc., in the Amount of $1,610,738. | |
| Strategic Priority Good Government | |
| Description Sterling Seacrest Pritchard, Inc., Savannah Airport Commission’s insurance broker of record, requested property liability insurance quotes for the 2025–2026 policy year. The insurable replacement of the property owned by the Commission is approximately $347,260,569 million. Despite a 1% decrease in insured values over last year, the blended insurance premium increased by 2%. The primary property insurance premium with Cincinnati Insurance increased by 7%, however, the overall premium cost was offset by a 17% reduction in premiums from excess carriers. As a result, the total annual insurance premium increased from $1,572,811 to $1,610,738. | |
| Recommendation Approval | |
| Contact Mr. Dawoud Stevenson, Director, Program Management | |
| Financial Impact Expenditure of $1,610,738 from Savannah Airport Commission Funds | |
| Review Comments | |
|
Attachments No attachments available |
|
|
