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INVESTIGATING THE EFFECTIVENESS OF INSURANCE AS RISK MANAGEMENT TOOL IN CONSTRUCTION INDUSTRY
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- Contributor: mr-chris
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- Case No: 435491ip
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ABSRACT - [ Total Page(s): 1 ]The nature of construction business is risk versed. Most forms of construction contract recognized the use of insurance as risk management tool. Few studies however, evaluates its effectiveness as risk management tool. This study investigated the efficacy of insurance in curbing risks in construction project delivery. The objectives were to identify insurable risks in construction project delivery, identify prevalent insurance policies in the construction industry, and to determine their level of use. Survey questionnaire were administered to 220 targets in the clients, contractors, and consul
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CHAPTER ONE - [ Total Page(s): 3 ]Construction insurance is a practice of exchanging a contingent claim for a fixed payment to protect the interests of parties involved in a construction project. Construction insurance is a major method of managing risks in the construction industry. Its primary function is to transfer certain risks from clients, contractors, subcontractors and other parties involved in the construction project to insurers to provide contingent funding in time of difficulty. Construction insurance plays an increasingly important role in guaranteeing the success of projects, with insurers shar ... Continue Reading
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ABSRACT - [ Total Page(s): 1 ]The nature of construction business is risk versed. Most forms of construction contract recognized the use of insurance as risk management tool. Few studies however, evaluates its effectiveness as risk management tool. This study investigated the efficacy of insurance in curbing risks in construction project delivery. The objectives were to identify insurable risks in construction project delivery, identify prevalent insurance policies in the construction industry, and to determine their level of use. Survey questionnaire were administered to 220 targets in the clients, contractors, and consul
... Continue Reading
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