Schexnayder, C J; Weber, S L and David, S A (2004) Transportation agency use of owner-controlled insurance programs. Journal of Construction Engineering and Management, 130(4), pp. 517-524. ISSN 0733-9364
Abstract
Controlled insurance programs are highly efficient risk control mechanisms. With a controlled insurance program, the interest of the owner, designer, construction manager, contractors, and consultants are covered by one insurance arrangement. This paper describes the current state of practice regarding the use of owner-controlled insurance programs by transportation agencies. Departments of transportation that have used controlled insurance programs for their major projects (construction costs greater than $100 million) report that they were satisfied with the results. But contractors are cautious because, when an owner's controlled insurance program administrator fails to perform, it is the contractor who incurs the residual consequences of increased business cost, and those consequences can extend far into the future.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | insurance; risk management; safety |
| Index terms: | risk management, major project, construction cost, construction manager, designer, insurance, program, transportation agency, owner |
| Subjects: | profession, transportation engineering, financial and cost management, strategic project management, software systems, risk assessment, economic analysis, sociology |
| Topics: | Stakeholder Management, Business Strategy, Cost Management, Digital Applications, Project Management, Roles and Professions, Engineering Principles, Risk Management |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here