Research On The Risk Management Of Construction All Risks In Subway

In the process of subway engineering project insurance, there are problems, likeasymmetry information between investment and underwriting, uncoordinated responsibilitiesamong the insurance participants, institutional work of insurance brokers, non-scientificservice achievements etc. In order to solve these problems, this article conduct a series ofresearches, from the perspective of the insurance broker, on the risk management plans ofall risks during subway construction project.First of all, identify risk factors of subway construction by means of WBS-RBS. Analyzethe risk factors from man-machine-environment-management four dimensions. Then matchthe identified risk factors with the insurable scope of all risks in construction project. With themethod of expert investigation, quantitative measures on the risk probability and risk impactof the insurable risk factors offers the data base for clustering analysis, and classify the53insurable risk factors into8types through clustering analysis eventually. According to theclustering center distance, the clustering characteristics of each type are concluded. After then,compare the characteristics of clustering with the risk grade evaluation criteria and define thelevel of each type of risk factors. Based on the defined levels of risk factors, suggestions aregiven for both investment and underwriting on the risk management work of organization anddisaster prevention and reduction, in the aspect of engineering insurance.Second, through data query of engineering insurance coverage status in2013ChinaInsurance Yearbook,20insurance companies with larger engineering insurance premium areselected as samples, to discuss the CIRC release of solvency regulation index and scholarsrelevant literature about the influence factors of solvency, in combination with statistical dataavailability and ten financial indicators. Using the financial index of the20insurancecompanies as sample data, factor analysis was carried out on the sample after the datastandardization. It is concluded that it can reflect the most information of sample throughthree common factors. The three common factors on the sample solvency account for morethan70%, which can be considered as the common factors to represent the focus on financialindicators. According to the insurance company solvency score results, a preliminarydiscussion is made about the mutual insurance and reinsurance, as well as the premiumdivision ratio of insurance company.Through the above research, this article provides scientific methods to evaluate thesubject-matter insured and the insurance company for the insurance broker and establish thecoordination of insurance for all plan details in order to provide a new train of thought for theinsurance of large engineering project risk management work.