Publication:
Re-engineering of premium computation formula for construction workers’ compensation insurance: critical factors and methods

dc.contributor.author Imriyas, Kamardeen en_US
dc.date.accessioned 2021-11-25T13:36:07Z
dc.date.available 2021-11-25T13:36:07Z
dc.date.issued 2009 en_US
dc.description.abstract Existing formulas to compute premiums for workers’ compensation insurance (WCI) for construction project have been found ineffective and lead to detrimental losses for insurers. This study developed a new set of formulas to address this problem. A combination of a literature review, questionnaire survey, statistical analysis of past WCI claim data, and an interview survey helped identify eight critical variables for premium-rating and the correlations between these variables and the premium rate. Based on these, a new premium computation model was developed and validated. The proposed model streamlines structured analyses of project factors, contractor factors, market conditions and insurers’ internal factors to decide optimal premiums. Moreover, it infuses the partnering notion in construction WCI. The implementation of the proposed model in the insurance industry would facilitate accident control in the construction industry and thereby loss minimisation for insurers. en_US
dc.identifier.issn 0003-8628 en_US
dc.identifier.uri http://hdl.handle.net/1959.4/40082
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/3.0/au/ en_US
dc.source Legacy MARC en_US
dc.subject.other Workers' compensation insurance en_US
dc.subject.other Construction safety en_US
dc.subject.other Occupational injuries en_US
dc.title Re-engineering of premium computation formula for construction workers’ compensation insurance: critical factors and methods en_US
dc.type Journal Article en
dcterms.accessRights metadata only access
dspace.entity.type Publication en_US
unsw.accessRights.uri http://purl.org/coar/access_right/c_14cb
unsw.relation.faculty Arts Design & Architecture
unsw.relation.ispartofissue 1 en_US
unsw.relation.ispartofjournal Architectural Science Review en_US
unsw.relation.ispartofpagefrompageto 28-39 en_US
unsw.relation.ispartofvolume 52 en_US
unsw.relation.originalPublicationAffiliation Imriyas, Kamardeen, Faculty of Built Environment, UNSW en_US
unsw.relation.school School of Built Environment *
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