Research On The Insurance System Of Construction Project

The construction project is a process full of risks. The implementation of the insurance system for construction project is an import measure on the insurance for the construction project, however, lags behind the times and the project of insurance services has encountered various difficulties. It is of pioneer significance to study the operation of the insurance system for construction project.This dissertation studies the following aspects.1. Construction standards, being arrears with the project payment, delaying the payment of rural laborers' wages, which are the troublesome and socially-focused problems; and the distorted relations between the owner, the supervising company and the construction enterprise. An in-depth analysis is made of those issues in terms of the situations, the harms, and the causes. The author points out, to cure those tough problems, innovative factors must be introduced, one of which is to carry out the insurance services for construction project on a large scale.2. A detailed analysis is performed on the insurance systems in China and abroad for construction project and how they have been carried out. The study of the documents shows that much satisfactory insurance systemsfor construction project have been established in the developed countries and successful implementations have been achieved, while in China this field is still in the infant stage and the situations differ considerably in different places. The vast quantity of problems in construction project and the serious challenges facing the domestic building industry afterChina's entry into WTO demand diverting the risks through the channel ofinsurance and enhancing the forecast consciousness of each related subject. All this prompts the establishment of an effective enforcement mechanism for the insurance for construction project.3. The insurance system for construction project and its implementation mechanism are technically discussed. Stressed are the elements of this insurance, the insurability, the common contents and the insurance coverage, and the kind of benefits. Probability is used to give the greatness of risk, and mathematical statistics is utilized to calculate the insurance charge. A new method is proposed to settle the insurance charge rate by the claim frequency and claim quota.4. In view of the reality of our society, the author, having referred to experiences in China and abroad, suggests routes to the perfection of the insurance system for construction project in theoretical basis, structure of the partakers, necessary regulations and rules, brokerage fostering, and promotions from all parties. The author also puts forward a clarified version of responsibility subjects and proposes to establish a market-oriented dynamic system.