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Awarded contract·Jacksonville Aviation Authority·Florida

Airport Property Insurance Broker Services

Won by Southeast Series of Lockton Companies, LLC$1.5MAwarded 10/1/2021Single Award
Contract source

Awarded vendors

  • Southeast Series of Lockton Companies, LLC

Description

This contract appoints Lockton to act as the exclusive broker for all airport property insurance needs of the Jacksonville Aviation Authority. The broker will manage policy procurement, renewal, claims handling, and risk‑management advisory services in accordance with the original RFP and any subsequent addenda. The agreement runs for a five‑year term, with no publicly disclosed renewal provisions, and the financial terms are not disclosed. • Scope: Comprehensive insurance brokerage for JAA’s airport property assets. • Vendor: Southeast Series of Lockton Companies, LLC, a Georgia‑based firm with senior contacts Daniel Thomas (VP) and Manoj Sharma (COO). • Term: Effective 1 Oct 2021 through 30 Sep 2026 (five years). • Procurement: Sole‑source award after competitive RFP process; solicitation documents are exempt from public disclosure.

Attached files

Key dates

Intent to award
10/1/2021
Awarded
10/1/2021
Starts
10/1/2021
Ends
9/30/2026
Duration
5 years

Last updated

Details

Award type
Single Award
Procurement
Sole Source
Industry
Insurance
NAICS
524210
Solicitation №
21-34-26101

Contract value

$1,500,000

No monetary amount is disclosed. Airport property insurance brokerage for a major international airport typically involves annual broker fees ranging from $200,000 to $500,000, depending on the size of the insured portfolio, the complexity of risk management, and the level of service (policy placement, claims handling, risk advisory). Multiplying a mid‑range estimate ($350,000) by the five‑year term yields roughly $1.75 million. Considering possible variations and the fact that larger airports often have higher exposure, a conservative ball‑park value of about $1.5 million is reasonable.

AI estimate from the award documents

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