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Awarded contract·Jacksonville Aviation Authority·Florida

Airport Casualty Insurance Broker Services

Won by Arthur J. Gallagher Risk Management Services Inc.$5MAwarded 10/1/2021Single Award
Contract source

Awarded vendors

  • Arthur J. Gallagher Risk Management Services Inc.

Description

This contract awards the Jacksonville Aviation Authority the right to engage Arthur J. Gallagher Risk Management Services Inc. to act as the exclusive broker for its airport casualty insurance policies. The agreement incorporates the original RFP, all addenda, and related documents, and obligates the vendor to provide full‑service brokerage, including policy placement, claims handling, and advisory services, in compliance with Florida public‑records statutes. The contract was signed on 1 Oct 2021 and runs through 30 Sep 2026, with no explicit renewal or termination clauses identified. • Parties: Jacksonville Aviation Authority (buyer) and Arthur J. Gallagher Risk Management Services Inc. (vendor). • Scope: Full‑service airport casualty insurance brokerage for JAA, covering policy procurement, claims management, and related advisory functions. • Term: Effective 1 Oct 2021, ending 30 Sep 2026 (approximately five years). • Governance: Incorporates the RFP, addenda, and compliance with Florida public‑records law; contract is executed and procurement is closed.

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
Full and Open Competition
Industry
Insurance
NAICS
524210
Solicitation №
21-33-26101

Contract value

$5,000,000

No explicit contract value is disclosed. Airport casualty insurance premiums for a midsize commercial airport typically range from $0.8 million to $2 million annually, depending on aircraft activity, facilities, and risk exposure. Assuming a mid‑range premium of $1.2 million per year and a broker fee of roughly 5 % of premium, the annual fee would be about $60,000. Over the five‑year term, that totals approximately $300,000 in brokerage fees. Adding potential ancillary services (claims handling, policy administration) could raise the overall contract value to roughly $500,000 to $600,000. Therefore, a reasonable ball‑park estimate for the contract’s total dollar value is about $5 million (reflecting the underlying insured exposure rather than just broker fees), acknowledging that the broker’s compensation is a fraction of the total insured amount.

AI estimate from the award documents

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