Dam Replacement Insurance

by Timothy K. Dahlstrand, STS Consultants Ltd, United States,



Document Type: Proceeding Paper

Part of: Legal, Institutional, Financial and Environmental Aspects of Water Issues

Abstract:

Most dam owners recognize that the dams they operate are critical structures, both to water users as well as downstream floodplain occupants. Loss of the structure use has significant social and economic consequences. To share the risks associated with dam ownership, insurance would be desirable. However, purchasers soon discover that insurance coverage for a dam is either not available or excludes the perils most common to a dam site. A discussion of conventional insurance coverage as it relates to existing dams is presented. This paper also incorporates the results of two dam owner surveys which identify types of insurance purchased by dam owners and the types and limits they desire. The availability of insurance for existing dams is discussed and an outlook for the future presented.

Subject Headings: Dams | Insurance | Owners | Social factors | Economic factors | Water use | Water supply

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