Research On Premium Rating Of Construction Quality & Safety Insurances In Construction Risk Management

Currently there exist many problems in China's construction quality and safety related insurances such as low purchase rate, high premium rate, similar insurance policies and low compensation. The determination of the premium rate of construction insurance is therefore of great importance. The main purpose of this thesis is to establish a calculation method for determining the premium rate and apply it to practical construction projects. On the basis of experiences of construction insurance development at home and abroad, this thesis suggests to compulsorily implementConstruction All Risks, Erection All Risks, Inherent Defect Insurance as well as Accidental Injury Insurance, which has been carried out but still needs further improvements. Meanwhile, it is suggested to release a guindance for insurance contract, put applicable risk identification and risk evaluation methods into practice, and work out premium rating procedures.By applying theories of composition of insurance premium, premium rating, actuarial theory of non-life insurance, and the characteristics of premium of construction insurance, the thesis puts forward an integrated premium calculation model based on risk analysis. The thesis establishes a rating method with the consideration of an adjustment to the basic premium rate, that is Applicable prerium rate = Basic premium rate×Adjusting coefficient. The thesis analyzes the key techniques of the integrated premium calculation model including risk analyzing techniques, risk evaluation methods, multi-index evaluation methods etc. They can be applied to identify the influence factors and then calculate the the value of the basic premium rate and adjusting coefficient. The thesis also suggests a combined techniqual chart for the integrated premium calculation model.The thesis conducts a case study to analyze the implementation of the calculation model. Proposing the influencing factors of the basic rates and adjusting coefficients of these four kinds of compulsory insurances, the thesis makes a tentative premium rating of the case project's Construction All Risks, Inherent Defect Insurance and Personal Accident Insurance.On the basis of the results of case study, the thesis suggests improving the integrated premium calculation model, making a rational insurance plan, choosing suitable insurer, promoting the development of collective insurers, and enhancing the administration from the government and the whole construction industry.The thesis does an exploratory study on the normalization of construction quality and safety insurance's premium rating. This preliminary study provides a framework for the calculation of the premium rate, and thus lays a foundation for the promoting and implementing of construction quality and safety insurance in China.