CONTENTS 1 SUMMARY 1 1 INTRODUCTION 7 Background, 7 Objectives of Study, 7 Scope of Study, 7 Study Methodology, 7 Organization of the Report, 9 2 AIRPORT OPERATOR INSURANCE-BUYING PRACTICES 10 Use of Brokers, 10 Insurance-Purchasing Decisions, 10 Interview Results-Insurance-Purchasing Decisions, 12 3 AIRPORT RISK MANAGER'S ROLE 13 Airport Risk Managers, 13 Risk Analysis, 13 Priority of Exposures, 14 Claims Administration, 15 Increasing Importance of Risk Management at Airports, 15 Interview Results-Risk Manager's Role, 16 4 COVERAGE SELECTION 17 Property and Liability Insurance, 17 Insurance for Construction, 17 War Risk and Terrorism Insurance, 18 Interview Results-Coverage Selection, 19 5 PRACTICES FOR CHOOSING DEDUCTIBLES AND LIMITS 20 Deductibles, 20 Limits, 20 Interview Results-Deductibles and Limits, 21 6 RISK RETENTION 22 Self-Insurance, 22 What Compels an Airport Operator to Self-Insure?, 22 Assessing the Viability of Self-Insurance, 23 Forgone Coverage Types, 23 Selection of Deductibles, 23 7 CONCLUSIONS 25 REFERENCES 27 BIBLIOGRAPHY 28 GLOSSARY 28 APPENDIX A SURVEY QUESTIONNAIRE 32 APPENDIX B LIST OF SURVEY RESPONDENTS 42 APPENDIX C INTERVIEW QUESTIONS 44 APPENDIX D LIST OF INTERVIEWEES 46 APPENDIX E INTERVIEW RESPONSES 47