Airport Insurance Coverage and Risk Management Practices (2011) / Chapter Skim
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Pages 15-18
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From page 15... ...
Not all organizations have risk managers, however, although someone is always responsible for the functions that a risk manger performs. The survey included questions about employment of risk managers by airport operators; their insurance-purchasing responsibility and authority; their systems, methods, and procedures for insurance purchasing; and how this function relates to their overall role within the organization.
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From page 16... ...
Some also use benchmarking and statistical analysis to assess the performance of risk management strategies and their overall insurance program. Based on survey responses, there appears to be no marked difference in the methods used by the three airport size classifications to perform risk analysis; however, small airport operators responded that they rely less on methods such as benchmarking and statistical analysis than do the larger facilities.
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From page 17... ...
In addition to air transportation and preflight dining, airport operators are transitioning into full-service operations in the business of providing hotel accommodations, gym facilities, museum and exhibition space, shopping, and connections to various methods of ground transportation. The transition equates to new and previously unexplored exposures and the need to effectively oversee those exposures.
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From page 18... ...
16 decisions. None of the interviewees defined "enterprise risk management." One interviewee said, "I have yet to meet anyone who actually practices enterprise risk management," and that it was not easy to do so because uninsurable risks were often addressed by line managers, not by the risk manager.
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