Compliance with securities and contractors’all risk insurance regulations among key Zambian construction industry stakeholders in Lusaka.
The risks associated with construction can be transferred to insurance. However, the levels of knowledge and use of insurance covers in the Zambian construction industry (ZCI) are not known. Knowledge and use of insurance covers have not been previously described. The study was designed to cover this knowledge gap among employees in both government and private sector construction institutions; insurance and financial institutions. A cross-sectional evaluation of 68 participants from government and private construction industry organisations was conducted between July and October 2019 in Lusaka using a questionnaire and focused in-depth interviews who were purposively sampled. The frequencies of responses among government employees were compared with those of private organizations using Chi-square and Fischer’s exact tests where appropriate. The participants consisted largely of the private sector (67%). Private sector personnel were more likely to have had five or more years of work experience than those of the Government of the Republic of Zambia (GRZ) institutions (86% vs 36%, p=.001). The majority (at least 88%) of the participants knew securities and contractors’ all-risk insurance, and there was no difference between GRZ and the private sector. Personnel from GRZ institutions were more likely to have used CAR-insurance security in one or more projects than those from the private sector (100% vs 47%, p=.009). Most of the participants knew securities and contractors’ all-risk insurance, but there was variation in their use. Majority of the participants had valid securities and successful implementation of securities. There were variable levels of compliance among different stakeholders towards securities. About half of the participants had systems for monitoring performance of securities; the majority of the systems were said to be effective.
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