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The Impact Of Insurance Policies To Building Project Contracts
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Research Questions
1. What are the various construction risk faced by construction industry?
2. What is the response of construction industry towards the use of Contractors All Risk policy (CAR)?
3. What are the benefits Construction industry derive from using insurance as a risk management tool?
4. What are problems Construction industry encounter in using insurance?
5. What are solutions to the challenges that construction industry encounter in using insurance?
1.5 Significance of Study
The
study would help identify the reasons for the level of patronage of
insurance as a risk transfer mechanism and create a changed behaviour of
the owners of Construction industry in Nigeria. The research would
benefit, risk managers, construction project consultants and building
planners by identifying areas that they might need to consider when
preparing disaster recovery plans, particularly for construction
project. Findings that emerged from the study would serve as a spring
board to generate interest for further research into the other aspects
of insurance challenges. The research work would also be of enormous
assistance to various levels of educational institutions in the country,
especially the universities as reference material for further studies
and research work on insurance as a risk management strategy. The study
would further contribute to the existing literature on mitigating and
providing confidence to contractors in their planning decisions.
1.6 Scope of Study
The
study was aim at evaluating the impact of insurance to building project
in Nigeria with particular to five construction firms in Anambra state.
The study recognize some contraction insurance policy in Nigeria.
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