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Critical Insurance Covers for Road Projects

Critical Insurance Covers for Road Projects

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Published by: HITESH on Nov 18, 2012
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12/04/2012

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original

 
 
Hitesh
 
Khristy
,
 
MSW,
 
CIIA
 
Licensed
 
General
 
&
 
Reinsurance
 
Broker
 
khristyhitesh@gmail.com
Page 1
Chances
 
for
 
Potential
 
Loss
 
&
 
Critical
 
Insurance
 
Covers
 
for
 
Road
 
Projects
 
(Things
 
to
 
be
 
considered 
 
while
 
designing
 
the
 
Insurance
 
Program
 
 for 
 
Road 
 
Projects)
 
History
 
notices
 
that
 
the
 
first
 
road
 
was
 
constructed
 
nearly
 
4000
 
years
 
ago
 
and
 
since
 
then
 
there
 
have
 
been
 
continuous
 
development
 
in
 
methods,
 
techniques
 
and
 
types
 
of 
 
roads.
 
The
 
Romans
 
built
 
stone
 
paved
 
roads
 
in
 
North
 
Africa
 
and
 
Europe
 
to
 
support
 
their
 
military
 
operations.
 
Later
 
the
 
Arabs
 
built
 
roads
 
that
 
were
 
covered
 
with
 
tar.
 
The
 
roads
 
were
 
constructed
 
by
 
preparing
 
earthworks
 
and
 
lifting
 
road
 
foundation
 
at
 
the
 
center
 
for
 
the
 
water
 
drainage.
 
The
 
road
 
construction
 
techniques
 
gradually
 
improved
 
by
 
the
 
study
 
of 
 
road
 
traffic,
 
stone
 
thickness,
 
road
 
alignment,
 
and
 
the
 
slope
 
gradients.
 
The
 
initial
 
road
 
construction
 
materials
 
were
 
stones
 
that
 
were
 
laid
 
in
 
a
 
regular,
 
compact
 
design,
 
and
 
covered
 
with
 
smaller
 
stones
 
to
 
produce
 
a
 
solid
 
layer.
 
Depending
 
on
 
the
 
main
 
function,
 
traffic
 
load
 
and
 
design
 
speed
 
roads
 
can
 
be
 
categories
 
as
 
under
 
 
Motorways
:
 
Motorways
 
are
 
generally
 
routes
 
for
 
fast
 
moving
 
and
 
long
 
distance
 
traffic.
 
 
Strategic
 
Routes
:
 
Are
 
trunk
 
roads
 
between
 
primary
 
destinations
 
and
 
short
 
distanced.
 
 
Distributor
 
Roads:
 
They
 
form
 
the
 
urban
 
networks
 
and
 
are
 
primary
 
links
 
for
 
local
 
traffic
 
with
 
various
 
 junctions.
 
 
Link
 
Roads:
 
Link
 
road
 
are
 
the
 
Linking
 
distributor
 
networks
 
with
 
frontage
 
access
 
and
 
frequent
 
 junctions.
 
 
Access
 
Roads:
 
They
 
are
 
serving
 
limited
 
numbers
 
of 
 
properties
 
and
 
carry
 
only
 
access
 
traffic
 
Development
 
of 
 
road
 
project
 
would
 
generally
 
comprise
 
of 
 
following
 
subsections
 
and
 
activities.
 
Site
 
clearance,
 
Drainage
 
works,
 
Earthworks,
 
Sub
 
base,
 
Road
 
base,
 
Flexible
 
surfacing,
 
Footways,
 
Traffic
 
signs
 
and
 
road
 
markings,
 
Concrete
 
for
 
structures,
 
water
 
works,
 
Electricity,
 
Light
 
works,
 
Telecommunication
 
works,
 
Traffic
 
signal
 
works,
 
Landscaping,
 
Irrigation,
 
Pedestrian
 
crossings,
 
under
 
pass,
 
over
 
pass,
 
roads,
 
bridges,
 
culverts,
 
Fencings
 
etc.
 
In
 
addition
 
it
 
would
 
have
 
aspect
 
of 
 
Designing
 
works
 
as
 
well.
 
Each
 
item
 
has
 
different
 
area
 
of 
 
civil
 
engineering
 
and
 
carries
 
different
 
risks.
 
Stages
 
of 
 
Constructions
 
We
 
would
 
also
 
have
 
to
 
examine
 
the
 
various
 
stages
 
involved
 
in
 
the
 
development
 
of 
 
such
 
project.
 
There
 
would
 
be
 
two
 
types
 
of 
 
projects
 
mainly,
 
1)
 
Development
 
of 
 
a
 
new
 
road
 
2)
 
Redevelopment
 
of 
 
the
 
road
 
which
 
we
 
would
 
classified
 
as
 
strengthening
 
and
 
widening
 
of 
 
the
 
road.
 
The
 
project
 
can
 
comprise
 
of 
 
maintenance
 
of 
 
the
 
road
 
as
 
well.
 
The
 
various
 
stages
 
under
 
the
 
construction
 
&
 
development
 
of 
 
road
 
works
 
would
 
be
 
as
 
follows.
 
Clearing
 
and
 
Excavation
:
 
area
 
on
 
which
 
the
 
road
 
is
 
going
 
to
 
be
 
built
 
on
 
must
 
be
 
cleared
 
of 
 
all
 
vegetation,
 
which
 
requires
 
the
 
removal
 
of 
 
trees,
 
shrubs
 
and
 
bushes.
 
Excavation
 
vehicles
 
will
 
also
 
dig
 
up
 
and
 
remove
 
rocks
 
and
 
stones
 
from
 
the
 
future
 
road's
 
pathway.
 
To
 
prevent
 
the
 
cleared
 
land
 
from
 
erosion,
 
control
 
devices,
 
including
 
fences,
 
ditches
 
and
 
basins
 
are
 
installed.
 
Mounting
:
 
The
 
road
 
takes
 
shape
 
as
 
diggers,
 
excavation
 
plant
 
machinery
 
and
 
bulldozers
 
mount
 
dirt
 
and
 
soil
 
over
 
the
 
area
 
where
 
the
 
future
 
pathway
 
will
 
run.
 
The
 
surface
 
is
 
then
 
leveled
 
and
 
smoothed
 
by
 
graders.
 
Culverts
 
and
 
drains,
 
consisting
 
of 
 
large
 
concrete
 
pipes,
 
are
 
laid
 
to
 
prevent
 
the
 
road
 
from
 
flooding
 
by
 
leading
 
away
 
groundwater,
 
sewage
 
or
 
storm
 
water.
 
Fine
 
Grading:
 
Fine
 
grading
 
requires
 
construction
 
workers
 
to
 
prepare
 
the
 
surface
 
by
 
leveling
 
it
 
according
 
to
 
plans
 
provided
 
by
 
structural
 
engineers.
 
Fine
 
grading
 
requires
 
manual
 
labor
 
and
 
 
 
Hitesh
 
Khristy
,
 
MSW,
 
CIIA
 
Licensed
 
General
 
&
 
Reinsurance
 
Broker
 
khristyhitesh@gmail.com
Page 2
digging
 
as
 
well
 
as
 
grading
 
plant
 
machinery,
 
also
 
called
 
graders.
 
To
 
make
 
the
 
grading
 
last,
 
it
 
is
 
stabilized
 
with
 
limestone
 
or
 
concrete.
 
Aggregate
 
Base
:
 
After
 
another
 
grading
 
of 
 
the
 
surface,
 
the
 
aggregate
 
base
 
course
 
is
 
laid.
 
Aggregate
 
base
 
is
 
made
 
of 
 
crushed
 
stone
 
or
 
gravel,
 
and
 
it
 
is
 
placed
 
evenly
 
on
 
the
 
road
 
surface.
 
If 
 
the
 
road
 
is
 
in
 
a
 
town
 
or
 
city,
 
a
 
curb
 
for
 
the
 
pavement
 
and
 
the
 
gutter
 
will
 
be
 
constructed
 
straight
 
after
 
the
 
gravel
 
is
 
placed
 
on
 
the
 
surface.
 
The
 
road
 
is
 
then
 
fine
 
graded
 
again.
 
Asphalt
 
Paving:
 
Once
 
the
 
gravel
 
has
 
been
 
distributed
 
evenly,
 
the
 
asphalt
 
can
 
be
 
poured.
 
Asphalt
 
is
 
a
 
mixture
 
of 
 
a
 
petroleum
 
byproduct,
 
an
 
aggregate
 
base
 
material
 
and
 
a
 
sticky,
 
gluelike
 
substance
 
called
 
bitumen.
 
Depending
 
on
 
the
 
expected
 
traffic
 
on
 
the
 
road,
 
up
 
to
 
four
 
layers
 
of 
 
asphalt
 
can
 
be
 
placed
 
on
 
top
 
of 
 
each
 
other.
 
The
 
asphalt
 
usually
 
is
 
produced
 
and
 
mixed
 
in
 
large
 
plants
 
after
 
the
 
engineer's
 
specifications.
 
The
 
hot
 
asphalt
 
is
 
filled
 
into
 
trucks
 
that
 
transport
 
the
 
material
 
to
 
the
 
construction
 
site
 
where
 
it
 
will
 
be
 
poured
 
immediately.
 
Before
 
the
 
last
 
layer
 
of 
 
asphalt
 
is
 
poured,
 
the
 
sidewalks
 
and
 
gutters
 
have
 
to
 
be
 
finished.
 
The
 
construction
 
work
 
is
 
concluded
 
by
 
placing
 
the
 
appropriate
 
road
 
signs
 
at
 
the
 
places
 
specified
 
by
 
planners
 
and
 
the
 
application
 
of 
 
road
 
markings.
 
Insurance
 
Program
 
Designing
 
any
 
insurance
 
program
 
requires
 
to
 
understand
 
the
 
nature
 
of 
 
work
 
to
 
be
 
carried
 
out.
 
When
 
it
 
comes
 
to
 
specialized
 
programs,
 
in
 
addition
 
it
 
is
 
also
 
important
 
to
 
understand
 
the
 
role
 
of 
 
connected
 
parties,
 
the
 
side
 
of 
 
the
 
project,
 
responsibilities
 
of 
 
contractor,
 
subcontractor,
 
designer,
 
work
 
to
 
be
 
out
 
sourced,
 
historical
 
and
 
experience
 
of 
 
parties
 
involved,
 
Design
 
aspect
 
of 
 
work,
 
time
 
schedule,
 
material
 
to
 
be
 
used,
 
Contract
 
Conditions,
 
works
 
attached
 
to
 
the
 
main
 
project,
 
past
 
losses
 
in
 
such
 
project
 
etc.
 
Various
 
underwriting
 
methods
 
are
 
under
 
use
 
but
 
the
 
objective
 
among
 
all
 
is
 
to
 
assess
 
the
 
risk
 
and
 
charge
 
the
 
premium
 
accordingly.
 
We
 
would
 
try
 
to
 
examine
 
some
 
areas
 
of 
 
potential
 
losses
 
and
 
some
 
of 
 
the
 
covers
 
that
 
can
 
be
 
incorporated
 
in
 
insurance
 
policies
 
that
 
can
 
protect
 
the
 
Contractor,
 
Principal’s
 
interest
 
at
 
a
 
larger
 
extend.
 
Potential
 
Changes
 
of 
 
Loss
 
Below
 
matrix
 
would
 
show
 
the
 
risks
 
to
 
road
 
projects
 
and
 
the
 
intensity
 
of 
 
loss
 
it
 
can
 
cause.
 
Cause
 
of 
 
Loss
 
Chances
 
of 
 
Loss
 
Severity
 
of 
 
Loss
 
Flood
 
&
 
Inundation
 
Depends
 
on
 
Geography
 
/
 
Topography
 
of 
 
Location
 
High
 
Earthquake
 
High
 
Windstorm
 
Moderate
 
Landslide
 
Moderate
 
to
 
High
 
Rockslide
 
Moderate
 
to
 
High
 
Subsidence
 
Low
 
to
 
Moderate
 
Moderate
 
Impact
 
Damage
 
by
 
TPV
 
High
 
Low
 
to
 
Moderate
 
RSMD
 
Low
 
Low
 
to
 
Moderate
 
Fire
 
/
 
Explosion
 
Low
 
Low
 
to
 
Moderate
 
Aircraft
 
Damage
 
Low
 
High
 
Terrorism
 
Low
 
High
 
 
 
Hitesh
 
Khristy
,
 
MSW,
 
CIIA
 
Licensed
 
General
 
&
 
Reinsurance
 
Broker
 
khristyhitesh@gmail.com
Page 3
Furthermore
 
Flood
 
&
 
Inundation,
 
Earthquake,
 
Windstorm,
 
Landslide,
 
Rockslide,
 
Subsidence
 
risks
 
would
 
be
 
classified
 
as
 
Natural
 
Catastrophes
 
&
 
Topographical
 
Exposures
 
that
 
can
 
cause
 
heavy
 
damage
 
to
 
the
 
works.
 
Flood
 
&
 
Inundation
:
 
Floods
 
have
 
caused
 
damaged
 
to
 
road
 
under
 
construction
 
and
 
in
 
operation
 
heavily
 
in
 
past.
 
Extraordinarily
 
heavy
 
rainfall
 
can
 
also
 
cause
 
damage
 
to
 
road
 
works.
 
During
 
rainy
 
seasons
 
the
 
water
 
level
 
can
 
raise
 
significantly,
 
even
 
beyond
 
river,
 
lake
 
or
 
water
 
bodies,
 
banks,
 
causing
 
extensive
 
flooding
 
damage.
 
Rivers
 
running
 
parallel
 
to
 
roads
 
over
 
long
 
distances
 
may
 
heavily
 
damage
 
the
 
construction
 
works,
 
especially
 
if 
 
culverts
 
are
 
under
 
designed
 
or
 
obstructed
 
by
 
debris.
 
This
 
would
 
generally
 
be
 
in
 
large
 
amount
 
and
 
damage
 
would
 
be
 
to
 
entire
 
area
 
affected
 
in
 
kilometers/miles
 
&
 
would
 
be
 
largely
 
part
 
of 
 
property
 
damage
 
claims.
 
After
 
flood
 
situation
 
would
 
require
 
reconstruction
 
&
 
repairing
 
works
 
to
 
be
 
carried
 
out.
 
Rain
:
 
Heavy
 
or
 
long
lasting
 
rain
 
can
 
wash
 
away
 
unprotected,
 
incomplete
 
or
 
inadequately
 
stabilized
 
road
 
sections
 
and
 
cause
 
erosion.
 
Inadequately
 
designed
 
or
 
unavailability
 
of 
 
drainage
 
systems,
 
culverts,
 
ditches
 
and
 
other
 
facilities
 
with
 
the
 
road
 
under
 
construction
 
may
 
result
 
in
 
flooding.
 
Wind
 
storm:
 
Wind
 
storm
 
exposure
 
exists
 
for
 
structures
 
like
 
temporary
 
buildings/office;
 
electric
 
polls
 
etc
 
under
 
construction
 
and
 
can
 
affect
 
the
 
stability.
 
In
 
deserts
 
or
 
desert
like
 
areas,
 
sub
base
 
or
 
base
 
course
 
can
 
be
 
contaminated
 
by
 
drifting
 
sand
 
during
 
sand
 
storms.
 
Snow
 
&
 
Ice:
 
Frost
 
(Ice)
:
 
Frost
 
weight
 
and
 
settlement
 
may
 
cause
 
damage
 
to
 
Road
 
Surface,
 
loss
 
of 
 
compaction
 
and
 
loss
 
of 
 
strength
 
during
 
thaw.
 
Snow
 
will
 
normally
 
cause
 
losses
 
to
 
road
 
construction
 
only
 
if 
 
it
 
appears
 
in
 
the
 
form
 
of 
 
avalanches,
 
in
 
particular
 
if 
 
sizeable
 
quantities
 
of 
 
debris
 
are
 
carried
 
along.
 
Earthquake:
 
Earthquake
 
can
 
cause
 
damage
 
to
 
road
 
works
 
by
 
making
 
it
 
uneven,
 
cracks
 
etc.
 
Particular
 
exposures
 
exist
 
in
 
sections
 
under
 
construction
 
or
 
already
 
completed
 
as
 
well
 
as
 
underground
 
services
 
can
 
be
 
ruptured
 
as
 
a
 
result
 
of 
 
an
 
earthquake
 
Ground
 
Failure:
 
The
 
cases
 
of 
 
soil
 
collapse
 
can
 
lead
 
to
 
damage
 
which
 
would
 
require
 
Temporary
 
repairs
 
and
 
repairing
 
works
 
afterwards.
 
Also,
 
the
 
unexpected
 
change
 
of 
 
soil
 
quality,
 
especially
 
with
 
the
 
presence
 
of 
 
ground
 
water
 
in
 
area
 
would
 
damage
 
the
 
road
 
works
 
and
 
may
 
call
 
for
 
soil
 
improvement
 
treatment
 
prior
 
putting
 
up
 
the
 
patch
 
up
 
works.
 
This
 
would
 
largely
 
be
 
in
 
specific
 
short
 
areas
 
(meters
 
etc)
 
Landslide:
 
The
 
sudden
 
accumulated
 
water
 
volume
 
not
 
be
 
absorbed
 
by
 
the
 
ground
 
would
 
cause
 
landslide
 
occurred
 
affecting
 
road
 
works
 
and
 
ditches
 
under
 
construction.
 
Cut
 
Slope
 
is
 
less
 
stable
 
than
 
a
 
natural
 
slope;
 
it
 
may
 
collapse
 
and
 
create
 
a
 
landslide
 
disaster.
 
Exposure
 
is
 
there,
 
as
 
soil
 
is
 
in
 
very
 
weak
 
condition
 
as
 
the
 
protection
 
works
 
to
 
stabilize
 
the
 
slope
 
is
 
not
 
completed.
 
Collapse
 
of 
 
Road
:
 
When
 
cut
 
slope
 
angles
 
are
 
not
 
adequately
 
adapted
 
to
 
ground
 
conditions,
 
there
 
are
 
insufficient
 
installations
 
of 
 
gabions
 
to
 
protect
 
canal
 
and
 
road
 
structure
 
&
 
insufficient
 
benching
 
chances
 
for
 
collapse
 
of 
 
road
 
would
 
be
 
higher.
 
Inadequate
 
drainage
 
of 
 
slopes
 
against
 
watercourses
 
and
 
rainfall
 
would
 
also
 
lead
 
to
 
collapse.
 

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