Premium-Rating Model for Workers’ Compensation Insurance in Construction Imriyas, Kamardeen en_US Low, S.P en_US Teo, A.L en_US Chan, S.L en_US 2021-11-25T13:36:59Z 2021-11-25T13:36:59Z 2008 en_US
dc.description.abstract Providing adequate workers’ compensation insurance (WCI) is mandatory by legislation in most countries for employers to hire workers. It is enforced to safeguard the interests of occupational injury victims while eliminating their employers’ financial burden of compensation. WCI’s significance in construction is immeasurable because the construction industry appears to be recording higher injury and fatality rates globally. On the other hand, insurance companies must be meticulous in deciding premiums for WCIs for construction projects. Traditionally, insurers have been adopting the experience modification rating technique for premium-rating of WCI. However, this technique has been proven ineffective for construction applications due to the unique characteristics of construction projects. Hence, a new premium-rating model for construction was developed and tested in the Singapore general insurance industry. The proposed model streamlines structured analyses of project hazards, contractors’ safety management systems, market conditions, and insurers’ internal factors to decide optimal premiums. Moreover, it infuses the partnering notion in WCI for construction. The implementation of the proposed model in the insurance industry would facilitate accident control in the construction industry and thereby loss minimization for insurers. en_US
dc.identifier.issn 0733-9364 en_US
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri en_US
dc.source Legacy MARC en_US
dc.subject.other Insurance en_US
dc.subject.other Construction site accidents en_US
dc.subject.other Safety en_US
dc.subject.other Models en_US
dc.title Premium-Rating Model for Workers’ Compensation Insurance in Construction en_US
dc.type Journal Article en
dcterms.accessRights metadata only access
dspace.entity.type Publication en_US
unsw.identifier.doiPublisher en_US
unsw.relation.faculty Arts Design & Architecture
unsw.relation.ispartofissue 8 en_US
unsw.relation.ispartofjournal Journal of Construction Engineering and Management en_US
unsw.relation.ispartofpagefrompageto 601-617 en_US
unsw.relation.ispartofvolume 134 en_US
unsw.relation.originalPublicationAffiliation Imriyas, Kamardeen , Faculty of Built Environment, UNSW en_US
unsw.relation.originalPublicationAffiliation Low, S.P, National University of Singapore en_US
unsw.relation.originalPublicationAffiliation Teo, A.L, National University of Singapore en_US
unsw.relation.originalPublicationAffiliation Chan, S.L, Formerly National University of Singapore en_US School of Built Environment *
Resource type