Aon
2023 Aon Public Transit Liability Benchmark Report
Public Transit Liability Analysis
Aon’s Actuarial and Analytics professionals are pleased to present the fourth edition of the Aon Public Transit Liability Benchmark Analysis.
This benchmark study is produced under a co-marketing cooperation between Aon and the American Public Transportation Association (APTA). Participation in this edition of the benchmark study was open to all public transit organizations.
This study is designed with public transit risk managers and stakeholders in mind. The report offers an opportunity to gain more insight into the risk profile of public transits and specifically to enable them to measure, maintain, and potentially reduce their liability exposure. The quantitative and qualitative aspects of the report allows for peer group comparisons of losses, discussion of the impact of safety and loss prevention best practices, and overall perceptions of the leading risk trends. Because of the unique nature of transit risks, a benchmark report that provides risk managers with an effective tool to compare their organization to transit peers is valuable for controlling the probability and/or impact of unfortunate events.
All participants were asked to complete a survey with two main sections. The first section consisted of questions about the organization’s risk management structure and practices. The second section presented a list of thirty risks and asked the participants to choose and rank the top ten risks they thought posed the greatest threat to their organization. After completing the survey, participants were asked to provide their loss runs valued between 6/30/2021 and 3/31/2022. Seventeen organizations responded, representing one hundred and ten individual transits across twenty-six states and Washington DC. Approximately 1.3 billion rider trips are taken on these organizations each year.
The database of public transit liability claims underlying the industry benchmarks contains approximately 50,000 non-zero claims from both auto liability and general liability lines, representing approximately $940 million of incurred losses. The database contains historical claim information for eleven accident years, 2011 to 2021. To preserve the confidentiality of the participants, all results are presented on an aggregated basis.
