Download or read book The Application Of Insurance As A Risk Management Tool For Alternative Dispute Resolution (ADR) Implementation In Construction Disputes written by Xinyi Song and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this dissertation is to provide project participants with an advantageous insurance policy that minimizes their total expected subjective loss. The model can serve as a decision-making support system to help project participants determine whether an ADR implementation insurance policy is attractive for a certain project. To illustrate the benefits of the proposed model, numerical examples are provided for simulation purpose. The results show that ADR implementation insurance, although not a tool to eliminate dispute resolution costs, is a powerful alternative in risk management to transfer the financial implications of ADR implementation risk to a third party.