Across The Engineering Insurance Technical Obstacles Ways And Risk Management Models

Now,project risk management is one of the hottest issues in research, engineering insurance,as a transference channel of construction risk,had been applied in the field of risk management.In recent years, accidents or disasters occurred in some infrastructure projects,which had got great loss of life and property due to the inappropriate risk management.Insurance companies could not do their best in the project risk management because of the passive position,and always took part in the stages of settlement of claims and bore a huge amount of damages.Some insurance companies proclaimed that they had lost lots of money in the engineering insurance business,in the case,insurance companies did not want to cover engineering insurance.On the other hand,applicants did not want insurance too,because they thought their risks were not fully protected.Engineering insurance met with several obstacles on the way of development,which including system,environment and technical obstacles. As for insurance companies,system and environment obstacles were external factors, the two barriers could not be solved by insurance companies alone in a short time,and should be settled by government's policy guidance and community collaboration in a long time and community widely involved. As for technical obstacles,which could be overcomed or reduce its impact through insurance companies efforts.This article suggested that insurance companies should entrust the supervision agencies,which had been signed a contract with owners,provided services so as to overcome the technical obstacles,and studied common agency issues by the way of setting economic model.In the first place,this article started at the technical obstacles,which had impact of the development of engineering insurance, by the way of studing the knowledge about project risk management and economic theory,analyzed breach and approach of overcoming the technical obstacles by the way of the theory of constraints,and discussed the main contents of technical services engineering insurance.Second,this article advanced that the supervision agencies could offer technical services as a new business to take park in project risk management. in order to do the basic work in the research.This article considered the situation about the supervision's duties by the way of survey,and studied the relationship between the tasks,which were entrusted separately by the owners and the insurance companies , connections between the supervision's duties and the technical obstacles.Then,this article discussed the legitimacy the model of proposed common agency.The third,this article studied the game behavior between the two principals and agent in the environment of common agency or sequential common agency by the way of establishing economic model,and set up the model of engineering insurance technical services under the framework of sequential common agency to restrain the moral hazard of the supervision agencies,decrease the moral hazard of two principals and eliminate the cooperation moral hazard between the two principals. This article also accounted that the relationship of the tasks entrusted separately by the two principals showed complementary in the environment of common agency. So the owners and the insurance companies should strengthen their cooperation in the commission acts,do well in the project target control and risk management,restrain the moral hazard of supervisory agencies through incentives and monitoring measures,decrease the moral hazard of The two co-principals,and optimize the overall effectiveness of project supervision and risk management through sincere cooperation.Finally,this article put forward approachs which insurance companies overcome the technical obstacles of engineering insurance,summarized the model of risk management in view of engineering insurance which based on risk management of the entire commission , and proposed policy recommendations and suggested that the MTR Corporation and the insurance companies should strengthen cooperation of risk management for the practice of Fuzhou Metro Line 1 construction project.