Browsing by Author "Sarpong, Samuel Oppong"

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    Studies on Exploring the Potential Innovations in Contractor Insurance Options in the Construction Industry in Ghana.
    (NOVEMBER, 2016) Sarpong, Samuel Oppong
    The construction industry (CI) worldwide involves many forms of activities that exposes it products, professional, services providers and consumers in the industry to many forms of risk and uncertainties in various dimensions. Contractors are not of sound mind when carrying out construction project because of the uncertainty and risk associated with it. This study presents critical examination of contractor insurance options available to the contractor and determines potential innovations in insurance delivery and means of adopting the options in the CI of Ghana. The study was based on a mixed method research methodology and covers construction and contractor insurance options, means of adopting an innovation method of contractor insurance option in order to ascertain the nature and typology contractor insurance options in the CI of Ghana. Data was collected in a questionnaire survey of 60 stakeholders in the CI and insurance companies across the Ashanti region of Ghana representing 76.92 percent (%) as the response rate. Descriptive statistical analyses were used toanalyse the research questions. Proposed findings cover better ways of creating awareness of risk and uncertainties involved in successful completion of construction projects and the need to involve them as contractor to contactor insurance when contracts are awarded. The study shows that, creating awareness of risk and uncertainties associated with contractor insurance is to fully protect construction worker as a core responsibility for every contractor. The study also shows that, the most influencing factors affecting the selection of contractor insurance are the insurance companies’ parameter and the determinants of contractor insurance options respectively. There is also evidence of “Contractor Insurance options and innovation is key to the development of the insurance industry” as the most potential innovations insurance option that influence the selection of contractor insurance option in the CI.