On the Importance of Insurance in Transportation Infrastructure Construction
Today, with social progress, insurance plays an increasingly important role in transportation infrastructure construction. Engineering project insurance is an advantageous means of protecting the interests of investors and contractors, allowing them to avoid major risks with small inputs; therefore, it should be fully applied in highway engineering, and this instrument of insurance should be well utilized. The greatest benefit of engineering insurance is that participants pay a certain insurance premium in exchange for the guarantee of compensation when they suffer substantial losses, thereby enhancing their own ability to withstand risks. This paper discusses the scope, selection, and application of insurance in transportation infrastructure engineering, and analyzes issues that should be noted when signing insurance contracts.
2015-08-18