Critical factors for insurance premium computation in construction Kamardeen, Imriyas en_US 2021-11-25T13:37:01Z 2021-11-25T13:37:01Z 2008 en_US
dc.description.abstract Workers’ compensation insurance is imperative for construction projects to safeguard the interests of workers and contractors. The commitment of insurers under this insurance is extremely broad. They must therefore accomplish rigorous risk and market assessments to decide optimal premiums. General insurers in Singapore have been experiencing detrimental loss-ratios in this business due to the lack of a proper framework that encompasses all the critical variables. The purpose of this study is to identify and explore the critical variables for premium-rating of construction workers’ compensation insurance. An extensive literature review helped identify 17 variables that may influence premium rates. An interview questionnaire survey and subsequently a statistical analysis of the survey data were carried out to identify the critical variables. Eight variables were found significant for insurers for premium-rating including: wage roll, project hazards, project safety, contractor’s claims history, insurer’s overhead costs, insurer’s corporate objectives, competition, and investment income from underwritten premiums. The findings of this study can be used by insurance companies in their risk assessment and premium-rating exercises. en_US
dc.language English
dc.language.iso EN en_US
dc.publisher CIB 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 Workers’ compensation insurance en_US
dc.subject.other Occupational injuries en_US
dc.subject.other Construction safety en_US
dc.subject.other Premium en_US
dc.subject.other Singapore en_US
dc.title Critical factors for insurance premium computation in construction en_US
dc.type Conference Paper en
dcterms.accessRights open access
dspace.entity.type Publication en_US
unsw.description.notePublic Original inactive link: en_US
unsw.identifier.doi Sri Lanka en_US
unsw.relation.faculty Arts Design & Architecture
unsw.relation.ispartofconferenceLocation Kandalam, Sri Lanka en_US
unsw.relation.ispartofconferenceName BEAR 2008 en_US
unsw.relation.ispartofconferenceProceedingsTitle Proceedings of CIB W89: International Conference in Building Education and Research en_US
unsw.relation.ispartofconferenceYear 2008 en_US
unsw.relation.ispartofpagefrompageto 692-705 en_US
unsw.relation.originalPublicationAffiliation Kamardeen, Imriyas, Faculty of Built Environment, UNSW en_US School of Built Environment *
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