The Decision of Damage Coverage of Construction Insurance

• Main Authors: Hsieh,Fang-Yi, 謝芳宜
• Other Authors: Hu,Yi-Jen
• Format: Others
• Language: zh-TW
• Published: 2002
• Online Access: http://ndltd.ncl.edu.tw/handle/05959197928047038329

碩士 === 淡江大學 === 保險學系保險經營碩士班 === 90 === Contractor’s All Risks Insurance (CAR) includes two sections. One is property insurance; another is third party liability insurance. The coverage of property insurance in CAR mainly covers the loss of insured during the period of construction work. Third party liability insurance mainly covers the accident occurred in construction sites and makes third party’s injury, die or property loss.This thesis mainly discusses the decision of property covered by Contractor’s All Risk Insurance and sum insured. Insured should pay more attention in the variation of the value about subject-matter insured because sum insured of property covered by Contractor’s All Risk Insurance will be influenced by actual value of the construction work, and the actual value of construction work will also be influenced by inflation and other factors. Therefore, the study mention five ways to decide sum insured: (1) Contract Price (2) Incurred Cost (3) Full Value (4) Replacement Value (5) First Loss Basis; and five ways to adjust sum insured: (1) Adjusting After The Insured Period (2) Appended Return premium Agreement (3) Periodic Adjusting (4) Sum Insured Adjusting Clauses (5) Sum Insured Recovering Clauses. The thesis recommends the insurer and the insured might append some adjusting clauses while they make an insurance contract and arrange the used currency value. Then the insured will avoid dispute about claim and obtain more adequate protection from the insurance policy.