After long-term development and changes, the international construction market has formed a relatively mature project contracting and management model. The subject of construction activities has a strong sense of insurance protection, and there is a strong demand for engineering insurance protection based on the insurance requirements made by risk threats and relevant laws and regulations. At the same time, insurance companies and insurance intermediaries continue to develop and improve engineering insurance products and services according to the needs of the engineering insurance market, which has effectively promoted the rapid development of the international engineering insurance market.
1, analysis of international engineering insurance products and services
In the international construction market, the main body of construction activities generally has a strong sense of risk management, and attaches great importance to using insurance power to counter various engineering risk threats. Especially in the long development process of the international construction market, people's understanding of various construction risks is deepening, and the demand for insurance protection for specific risks is increasing, which gradually gives birth to relatively perfect engineering insurance products and innovative insurance services.
Engineering all risks
All risks of engineering, including all risks of construction and installation engineering and third party liability insurance, including: compensation for the losses caused by natural disasters or accidents during the construction or installation of the project itself (permanent or temporary), building materials, various engineering equipment, engineering machinery and other property; And the liability of the insured for personal injury or property loss of a third party according to law.
The insurance period of engineering all risks covers the period of engineering construction and installation; The subject matter of insurance includes property losses such as the project itself, various building materials, machinery and equipment, and personal and property losses of a third party; The main bodies involved in construction activities include owners and contractors.
Employer liability insurance and accidental injury insurance
Employers' liability insurance and accidental injury insurance both focus on the compensation for accidental medical treatment, disability or death caused by accidental injury risk. They are liability insurance, which covers the employer's accidental compensation responsibility for employees, not only compensates employees or their families who have suffered accidental injuries, but also exempts or reduces the employer's economic compensation responsibility.
The protection period of employer liability insurance and personal accident insurance covers the stages of project investigation, design, construction, installation and trial operation; The subject matter of insurance includes compensation for medical treatment, casualties and other expenses incurred by construction personnel due to accidental injuries; The main body of construction activities involved includes construction personnel such as survey, design, construction and supervision.
IDI engineering quality potential defect insurance
The insurance liability of IDI engineering quality potential defect insurance includes: the engineering quality does not meet the mandatory standards of engineering construction and contract agreement due to design, materials, construction and other reasons, as well as the repair and compensation liability caused by quality defects exposed during use.
The insurance period of potential defects in engineering quality covers the engineering survey and design stage, construction stage and operation stage, and the longest insurance period can reach ten years after completion. Among them, in each construction stage before the completion of the project, the project quality potential defect insurance mainly provides professional quality risk management services for the project construction; After the completion of the project, provide repair compensation guarantee services due to quality defects. The main body of construction activities involved in the insurance of potential defects in engineering quality includes the construction unit, the construction unit and the small business owner.
Professional liability insurance
Occupational liability insurance refers to the insurance that the insurance company is responsible for the corresponding economic compensation liability for accidents caused by negligence and negligence in construction activities (survey, design and construction), resulting in personal injury or property loss of others.
The insurance period of occupational liability insurance is also long, with the longest insurance period of 8 years under the single project insurance mode and the longest insurance retrospective period of 15 years under the annual insurance mode. The insurance liability of professional liability insurance mainly focuses on the material loss and the third party liability caused by the insurance accident, and its purpose is to provide the risk response and compensation ability of relevant professionals and ensure the smooth solution of the economic compensation problem caused by the insurance accident.
automobile insurance
Third-party liability insurance motor vehicle insurance refers to the insurance that motor vehicles with public licenses are damaged in natural disasters or accidents or cause damage to the life and property safety of third parties, and the insurance company bears the corresponding economic compensation liability.
Motor vehicle insurance, like all engineering insurance, is also a comprehensive property insurance that integrates property loss insurance and liability insurance. Insurance liability includes not only the loss compensation of the motor vehicle itself, but also the personal injury and property loss compensation caused to the third party.
Construction machinery insurance
Construction machinery insurance is a kind of engineering insurance whose insurance responsibility is to compensate for the losses of various construction machinery and equipment in natural disasters or accidents. Its additional risks include third party liability insurance and employer liability insurance, so its insurance scope can include three parts: compensation for property losses of construction machinery, compensation for personal and property losses of third parties and compensation for accidental injuries of operators.
Credit insurance and guarantee insurance
Credit insurance means that the creditor directly applies for insurance with the insurer, requiring the insurer to underwrite the debtor's credit. If the creditor suffers economic losses due to the debtor's non-performance, the insurer must be responsible for compensation according to the insurance contract. If the contractor is worried that the merchant can't pay the project payment on time, he will apply for credit insurance with the insurance company as the right holder to protect the payment credit of the owner. Once the owner fails to pay the project payment as scheduled, the insurance company will be responsible for compensating the contractor for the corresponding economic losses.
Guarantee insurance refers to the debtor's insurance, and the insurer provides credit guarantee for the debtor as a guarantor. If the debtor's behavior causes the creditor to suffer economic losses, the insurer will compensate the creditor for the economic losses instead of the debtor and has the right to recover from the debtor. If the contractor applies to the insurance company for guarantee insurance, the insurance company will assure the owner that the contractor will perform its obligations in accordance with the contract. Once the contractor fails to perform the contract, the insurance company will be responsible for compensating the owner for the corresponding losses.
Deferred completion insurance
Deferred completion insurance mainly covers the delayed completion of the project due to natural disasters, accidents and other risk factors in the construction process, which in turn causes the owner's expected profit, bank loan interest and indirect economic losses to make up for fixed expenses.
Delayed completion insurance mainly appears in the form of additional insurance for all risks of the project, and is rarely underwritten as an independent insurance. Its insurance subject matter is different from the traditional engineering insurance subject matter, which is risky and requires higher insurance technology. Usually equipped with more professional third-party risk management services, and supported by professional reinsurance companies.
In addition to sound and perfect engineering insurance products, the international engineering insurance market also has relatively mature development in the application of innovative insurance services. Its main performance is that insurance companies themselves or with the help of the services of third-party professional organizations can give powerful risk management services to engineering insurance products, such as TIS services in the whole process of engineering quality potential defect insurance, performance risk management services of credit insurance and guarantee insurance, and professional third-party risk management services of delayed completion insurance.
Through innovative research and development and extensive application of various insurance product risk management services, on the one hand, insurance companies can form a brand-new insurance guarantee role outside the existing project management system and effectively deal with risks such as project construction quality, construction safety, construction period and investment control; On the other hand, with the help of professional risk management, insurance companies further participate in construction project management, and play an important role in market access screening (the level of insurance protection or insurance premium rate affects the market business of construction enterprises), risk management in the whole process of project engineering (quality, safety, construction period and investment risk management), and comprehensive risk compensation guarantee afterwards.
2. Analysis of the development status of domestic engineering insurance market.
Since 1980s, China has been exposed to "engineering insurance", an important modern risk management tool, through World Bank loans and "foreign capital" construction projects. Comparatively speaking, the development time of domestic engineering insurance market is short and the degree of development is not sufficient. There are: uneven development of insurance types and narrow insurance coverage; Lack of insurance service innovation can not further expand the value of engineering insurance; The reinsurance market is developing slowly, which can't quickly drive the expansion of direct insurance engineering insurance business.
The development of insurance is unbalanced.
Compared with the international engineering insurance market, the overall development time of the domestic engineering insurance market is shorter. Although the construction market has a strong demand for insurance protection against risks such as project quality, construction safety, contract performance, property protection and professional liability, the market is obviously insufficient in product supply, and all kinds of project insurance are characterized by unbalanced development, which cannot form a comprehensive and effective project insurance protection.
At present, the relatively mature engineering insurance types in China mainly focus on comprehensive property insurance and accidental injury insurance. For example, all risks of construction engineering, all risks of installation engineering and comprehensive risks of construction machinery are almost necessary for all kinds of projects, and the insurance liability includes compensation for property losses of engineering or mechanical equipment itself and compensation for personal injury and property losses caused to third parties. Another example is the construction accident insurance, which was explicitly required to be insured by the Construction Law for the first time, and has been widely used in the construction insurance market. Many places regard it as compulsory insurance, and construction is not allowed without insurance.
In addition to comprehensive property insurance and accidental injury insurance, the domestic market development and practical application of engineering types such as engineering quality potential defect insurance (IDI insurance), professional liability insurance, safety production liability insurance, engineering guarantee insurance and delayed completion insurance are slow, unbalanced and inadequate. Among them, such as engineering quality potential defect insurance, engineering guarantee insurance and safety production liability insurance are all new types of engineering insurance introduced and developed in China in recent years. Despite the strong policy promotion, it is still affected by the market development time, and there are some problems in market promotion and practical application. Occupational liability insurance and delayed completion insurance developed slowly.
Lack of insurance service innovation
Traditional engineering insurance services mainly focus on the two business ports of "insurance" and "claim settlement", lacking the necessary modern post-insurance risk management services. Limited by this, new types of engineering insurance in China, such as engineering quality potential defect insurance, safety production liability insurance, engineering guarantee insurance and delayed completion insurance, are caught in a development dilemma when developing necessary risk management services: they lack professional engineering insurance risk management service technology, talents, management and service experience, and cannot provide effective risk management service support for related new types of engineering insurance, which affects the rapid and full development of the domestic engineering insurance market.
In addition to the marketing and practical application of related insurance, immature risk management services also affect the transformation and development of traditional engineering insurance business model. At present, the domestic engineering insurance market business is mainly carried out in a decentralized and combined insurance mode, and there are defects in insurance handling fees, insurance contract management, insurance guarantee and risk management services. CIP (Controlled Insurance Plan) is a common engineering insurance mode in the field of international engineering insurance. It is not a specific type of insurance, but a comprehensive insurance protection method involving all stages of construction, all participants and all risk factors, which is conducive to reducing insurance handling costs, improving insurance contract management efficiency, expanding insurance coverage and improving project risk management level. However, the development of CIP insurance model objectively requires insurance companies to have or be able to provide professional quality and safety risk management services with the help of third-party institutions, which has become the main constraint for the development of CIP insurance business in the domestic engineering insurance market.
Therefore, due to the lack of necessary and effective risk management services, insurance companies always lack business opportunities to further participate in project management and cannot play a diversified insurance guarantee role in the mature engineering insurance market.
The reinsurance market is developing slowly.
Engineering construction activities are characterized by large investment, long construction period, difficult management, complex risk factors and many risk links. Therefore, the development of engineering insurance business objectively needs the insurance technology and underwriting ability of insurance companies such as product pricing, underwriting and risk management, which requires the business support of reinsurance companies. On the one hand, reinsurance business can effectively help direct selling insurance companies diversify their business risks and become an important risk management tool for direct selling insurance companies; On the other hand, reinsurance companies will provide various insurance technical support for direct selling insurance companies, help them formulate product pricing and underwriting schemes, and provide various professional consulting services, thus improving the overall underwriting capacity and management level of direct selling insurance companies.
Engineering insurance is a highly specialized insurance field. At present, there are few professional reinsurance companies in China, the domestic engineering reinsurance market develops slowly, and a large amount of premiums flow into the international market. This is also the main reason why some special insurance types (such as DSU delayed completion insurance) cannot be effectively and smoothly carried out in the domestic engineering insurance market at present, and some new engineering insurance types (IDI engineering quality potential defect insurance and engineering quality assurance insurance) are gradually popularized and applied. ?
Comparing and analyzing the development characteristics of international engineering insurance market and further accelerating the development of domestic engineering insurance market are important guarantee conditions for realizing the internal and external development strategy of China's construction industry. At present, the domestic engineering insurance market still faces some development difficulties in terms of products, services and reinsurance, and there is still a long way to go to promote the transformation and development of the traditional engineering insurance market and connect with the international market.