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March 14, 2024, City Council Regular Meeting
37. Approval of the 2024-2025 Airport Liability Insurance Program with Sterling Seacrest Pritchard, Inc., in the Amount of $886,479
Strategic Priority
Good Government

Sterling Seacrest Pritchard, Inc. solicited quotes and has made the recommendation to bind coverage and renew the expiring nine (9) insurance policies and three (3) bond coverages the Commission has carried in previous years. Last year, the Airport Commission approved several multi-year policies at a discount that are not up for renewal this year, and the Airport's property insurance will run through July 2024 due to the named storm coverage approved last year. This total represents a 10% increase over these same policies in last year’s insurance program, mostly due to increased exposure from the Airport's additional passengers, facility updates, several large claims, and blanket increases across the market.



Dawoud Stevenson, Director, Program Management
Financial Impact
Expenditure of $886,479 from the Savannah Airport Commission Fund
Review Comments

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