Coordinated Insurance for Major Construction Projectsby David B. Ashley, (A.M.ASCE), Asst. Prof.; Construction Engrg. and Project Management Program, Dept. of Civ. Engrg., Massachusetts Inst. of Tech., Cambridge, Mass.,
Serial Information: Journal of the Construction Division, 1980, Vol. 106, Issue 3, Pg. 307-313
Document Type: Journal Paper
Major construction projects normally contain major risks for all the parties involved; purchase of insurance often provides a shifting and reduction of risk. In many major construction endeavors the owner elects by developing a Coordinated Insurance Program to purchase some or all of the insurance for the other participants. Decisions concerning this program include the basic decision to establish such a program and the specific decisions of what form the program should take. The first basic decision is often made by the owner's in-house forces by evaluating a checklist of pros and cons. Specific program definition requires a thorough risk analysis of premium costs, absorbed losses, and impacts on incentives to perform.
Subject Headings: Construction management | Insurance | Owners | Terminology and definition
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