Unless the government intercedes, Tucson International Airport could face large increases in liability and property insurance rates because of the Sept. 11 attacks.
The Associated Press reported the airport could see its policies double or triple in price for the coming year, according to Jim Garcia, director of properties and insurance at the Tucson Airport Authority, which operates the airport. This could take the yearly premium for both policies from $200,000 to $600,000 if the authority chooses to reinstate the terrorism and acts-of-terrorism clauses. Even if those clauses were declined, the liability and property insurance rates would still climb to $400,000 following the attacks, Garcia said.
The airport authority’s renewal date for the policies is Nov. 15.
Topics Trends Aviation Pricing Trends
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