Insurance Strategy for Tunnel Construction Projects
Date Issued
2009
Date
2009
Author(s)
Chen, Hui-Wen
Abstract
Due to the mountainous nature and high population density for most of Taiwan, there is a need for most larger-scale highway construction projects to minimize space usage in order to ensure environmental preservation. As a result, mountain tunnels tend to make up a significant portion of most highway construction projects.ost of the larger scale public construction projects in Taiwan tend to utilize CAR (Contractor’s All Risk) insurance policies to partially mitigate risks of potential financial loss. There have been several recent studies on tunnel construction insurance policy rates and deductibles, however, fewer studies have been conducted on the additional (special) coverage clauses that directly impact insurer’s interest.his thesis focuses on the additional (special) coverage clauses in the CAR insurance policies for mountain tunnel construction projects. Through the collection and analysis of various CAR insurance policies and government regulations regarding this subject, this study intends to summarize and generalize all potential issues with the additional coverage clauses. Subsequently, this study consolidate recommendations from industry experts (through in-depth interviews) to determine potential solutions to these issues.his thesis provides insights to the following:.The evolution of insurance policies for Taiwan highway construction projects and a summary of all potential issues from the insurance policies..A breakdown of the key additional (special) coverage clauses and their impacts..Compare and contrast the pros and cons for the three possible alternatives for current highway construction contractors: (1) revision of current policy and regulations, (2) Owner Controlled Insurance Program, or (3) no insurance coverage.
Subjects
Tunnel
Construction Insurance
CAR
Type
thesis
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ntu-98-P95521713-1.pdf
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