We ve had an incredibly low loss ratio since inception of the programs. We ve had no catastrophes. The Coverages Six insurance policies cover the majority of the project, according to Greiman. The six coverages are workers compensation, general liability, professional liability, airport contractors liability, railroad protective coverage, and builders risk. Our largest coverage by far is our workers comp.
General liability comes next, with the others being relatively small in comparison.
We have large deductibles. Our deductibles are very large, so we do have a large self-insured retention and we have a budget for insurance that we constantly monitor the losses to date, the projected losses, and reevaluate what those losses will be going forward. To keep the insurance program under control, Greiman combines the safety control measures with nonsafety methods. We do regular risk analysis biannually and internal reviews annually. We re now at a juncture in the project where we re thinking about closure in 2004.