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March 27, 2025 City Council Regular Meeting |
Title 38. Approval of the 2025-2026 Airport Liability Insurance Program with Sterling Seacrest Pritchard, Inc., in the Amount of $1,132,941. |
Strategic Priority Good Government |
Description
Sterling Seacrest Pritchard, Inc. solicited quotes and has made the recommendation to bind coverage and renew the expiring 11 insurance policies and three bond coverages the Commission has carried in previous years. We have several discounted multi-year policies that are up for renewal this year, and our property insurance will run through July 2025. This total represents a 20% increase over these same policies in last year’s insurance program, mostly due to increased exposure from our additional passengers and revenue, several large claims, and blanket increases across the market.
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Recommendation
Approval
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Contact Mr. Dawoud Stevenson, Sr. Director, Program Management |
Financial Impact Expenditure of $1,132,941 from Savannah Airport Commission Funds |
Review Comments
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Attachments
No attachments available
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