0704-883-0675     |      dataprojectng@gmail.com

INVESTIGATING THE EFFECTIVENESS OF INSURANCE AS RISK MANAGEMENT TOOL IN CONSTRUCTION INDUSTRY

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 3000

Abstract

The nature of construction business is risk versed. Most forms of construction contract recognized the use of insurance as risk management tool. Few studies however, evaluates its effectiveness as risk management tool. This study investigated the efficacy of insurance in curbing risks in construction project delivery. The objectives were to identify insurable risks in construction project delivery, identify prevalent insurance policies in the construction industry, and to determine their level of use. Survey questionnaire were administered to 50 targets in the clients, contractors, and consultants organizations and insurance companies in Akwa-Ibom state. Data analysis involved descriptive statistics and Relative Important Index. The findings revealed the five most significant insurable risks in the construction industry as injury to person, injury to property and heavy rain, fire, poor construction method and poor site management practices. Further findings revealed the most significant insurance policies in the construction industry are bid bond, contractors all risks insurance, performance bond, motor insurance and third party insurance. The level of use of these insurance policies is however very low and their effectiveness deemed adequate to address construction risks. To promote increased adoption of insurance in construction risk management, awareness of the benefits must be propagated to the common domain.

 

 

 





Related Project Materials

THE IMPACT OF EMPLOYEE DISCIPLINE ON ORGANIZATION PERFORMANCE

ABSTRACT

This study was carried out  to examine the impact of employee discipline on organization performance using...

Read more
A STUDY OF TENSE ERRORS IN THE WRITTEN ENGLISH ESSAY OF SS II STUDENTS

ABSTRACT

This study titled “A study of Tense Errors in the Written English Essays of SS II students of Giwa Educational Zone”...

Read more
AN INVESTIGATION OF THE CORRELATES OF JOB SATISFACTION AMONG BUSINESS STUDIES TEACHERS IN NIGERIA

EXCERPT FROM THE STUDY

The findings of this study revealed that promotion influences business studies teachers’ job satisfaction&nb...

Read more
AN ASSESSMENT OF FUND ACCOUNTING IN VENTURE CAPITAL INVESTMENTS

Abstract: AN ASSESSMENT OF FUND ACCOUNTING IN VENTURE CAPITAL INVESTMENTS

The objectives of this study are to: (1) analyze the specific a...

Read more
MORAL PROBLEMS IN NIGERIAN EDUCATIONAL INSTITUTIONS

Abstract

This study was carried out to examine moral problems in Nigerian educational institutions usin...

Read more
PUBLIC PERCEPTION ON EFFECT OF DRUGS ABUSE ON YOUTHS ACADEMIC PERFORMANCE: A STUDY CASE OF LOKOJA, KOGI STATE

Background of the Study  

Drug abuse has transformed into a worldwide issue negatively impacting n...

Read more
COOPERATIVE THRIFT AND CREDIT SOCIETY SYSTEM (CTCSS)

Abstract

This project work aimed at developing a Cooperative Thrift and Credit Society System (CTCSS) for Cooperative So...

Read more
THE IMPACT OF E-LEARNING ON THE ACADEMIC PERFORMANCE OF UNDERGRADUATES

 

ABSTRACT

This study was designed to examine the impact of e-learning on academic performance In Univers...

Read more
EFFECT OF TRADO – MEDICAL ADVERTISING ON HUMAN HEALTH AND BROADCAST MEADIA

ABSTRACT

The trend of wholesale commercialization of media outfits has given rise to programming of eve...

Read more
ASSESSING THE ROLE OF EARLY CHILDHOOD EDUCATION IN ENHANCING EMOTIONAL INTELLIGENCE

 ABSTRACT: Assessing the role of early childhood education in enhanci...

Read more
Share this page with your friends




whatsapp