A Study On The Development Strategies Of Engineering Insurance Of BCC Insurance Company

Engineering insurance is an important component of nowadays engineering project risk management.Starting from its related concepts and theoretical basis of engineering insurance,this paper introduced the applications of engineering insurance in engineering projects in China at present days,and taking BCC Insurance Company as an example,analyses and discussions are made herein from several aspects including the current situation of operation and development of engineering insurances in medium-sized insurance companies,future development strategies and guaranteeing measures of engineering insurance.In the paper,suggestions were made on how to play the proper role and to better operate engineering insurance in future engineering projects,and certain references values were provided on the development of engineering insurance and further improvement of its social ?commercial and enterprise values.The progress of the promotion of engineering insurance in China is not ideal,which fails to achieve a satisfactory result.In general,engineering insurance has a very low level of popularity in the market,moreover,its business development is considerably uneven from the perspectives of the insurance source market,insurance company,and regional dimension.At present,in terms of insurance source market,most projects covered by engineering insurance are in large-scale,while the rest of the small and medium-sized engineering projects are in low coverage.As for insurance companies,with the monopoly of three giants including People's Insurance Company of China,Property Insurance of Ping An Insurance and Property Insurance of China Pacific Insurance not yet broken,small and medium-sized insurers such as BCC can only struggle to survive in the market of engineering insurance.In respect of regional dimension,engineering insurance coverage in eastern developed regions is high,while its coverage in western regions with poor natural conditions and economic backwardness is relatively low due to weak insurance awareness or insufficient project funds.Therefore,improving the market's recognition of engineering insurance,elevating the level of control of medium-sized insurance companies for engineering insurance,and normalizing relevant standards and requirements for the engineering insurance industry,willeffectively promote the benign development of engineering insurance,and maximize its role in risk dispersion? prevention and control in engineering projects construction.