The insurance practices for hydraulic construction projects - A study on the Water Resources Agency
Date Issued
2007
Date
2007
Author(s)
Hsu, Chen-Yu
DOI
zh-TW
Abstract
Due to the critical geography and topography of Taiwan, it will cause enormously damages when it comes to monsoon season annually. Therefore, Executive Yuan(ROC) has agreed the project to ameliorate the predicaments of the specific areas where suffer serious flood ravage during the typhoon season, The estimated budget of the project is 11600 billion NTD for 8 years, partially, 8000 billion NTD has been subsidized to the Water Resource Agency.
Consequently, flood catastrophes is arising the issue of engineering insurance. The contractors are obligated to pay for the insurances at the interval between after-bidding and the commencement of the project by the Water Resource Agency. However, during recent cases has revealed that most of insurance companies would not accept the regulations offered by contractors because of high risk of the project. The dilemma situations have forced contractors to purchase ineffectual insurance to meet the requirement from the Water Resouce Agency. If current engineering insurances difficulties were not confronting, the coming insurance arguments of the 8000 billion NTD project from Executive Yuan could be foreseen.
This essay will look into Construction All Risk Insurance(CAR) by literature review and field interview. It has encompassed three dimensions as followed:
1. Studying the difficulties between theoretical policy making and practical industry applying.
2. Inducing the observations on owners, contractors, and insurance companies.
3. Analyzing three strategies as OCIP, risk retention, and improvement of the present policy, it will attempt to render the suggestions to coming policy makers.
Subjects
水利工程
工程保險
營造工程財物損失保險
Insurance Strategies
Construction Insurance
CAR
Type
thesis