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The Optimal Allocation of Insurance Related Risks and Costs in Construction Projects

Publication No
SD-96
Type
Academic Document
Publication Date
Jan 01, 1994
Pages
292
Research Team
RT-019
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DOCUMENT DETAILS
Abstract
Key Findings
Filters & Tags
Abstract
Commercial Liability Insurance Crisis The commercial liability insurance crisis of the mid-1980’s caused risk managers in the construction industry to realize that they could not make reasonably accurate predictions of future costs or the avai
Key Findings

More attention should be given to the risk management options other than insurance. The following five steps are discussed in detail within the research:

  1. Risk Identification
  2. Risk Measurement
  3. Risk Management Tools (selection)
  4. Implementation
  5. Monitoring/Evaluation
Filters & Tags
Knowledge Area
Procurement & Contracts, Risk Management
Project Phase
Detailed Design (Engineering), Procurement, Construction
Project Function
Project Business Sponsor, Architects & Engineering, Procurement & Contracts, Construction, Health, Safety & Environmental, Risk Management
Industry Group
Light Industrial, Heavy Industrial, Buildings, Infrastructure
Research Topic
Insurance
Keywords
insurance, workers compensation, liability insurance, general liability, builders risk, risk allocation, risk financing, hold harmless agreement, wrap-up insurance, rt19

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