https://www.um.edu.mt/library/oar/handle/123456789/66720 Fri, 10 Apr 2026 03:15:44 GMT 2026-04-10T03:15:44Z https://www.um.edu.mt/library/oar/handle/123456789/118313 Title: An analysis of technical risks in the construction of buildings in Malta Abstract: The aim of this dissertation was to carry out an Analysis of Technical Risks involved in the Construction of Buildings in Malta. After outlining a basic plan for the dissertation to follow through the Literature Review, the author became aware of the existing Technical Risks related to buildings in the global construction sector, namely Design Risks, Risk of Inadequate Materials used in the Construction Process and Workmanship Risks, as well as the Risk Management techniques utilised. From the Literature Review, the author identified areas wheremore knowledge needed to be obtained, specifically relating to the local scenario. Therefore, different sets of questions were formulated in order to gain a more in-depth perspective about the subject and possibly find new kind of Risk Management techniques. The author identified Periti, Geotechnical Engineers, Quality Assurance Engineers/Surveyors and Project Managers as the experts in the construction field to provide answers for such questions. Since the questions were of a Qualitative nature, Interviews were the most appropriate data collection tool and Thematic Analysis was the model chosen in orderto analyse data collected from respondents. The main findings of this Dissertation were that; cost savings in construction projects are prioritised over quality, customers have become accustomed to substandard quality housing, developments are dictated by the developers not by professionals, ground risks are the most severe type of construction risks, human resources are limited in the Maltese construction industry leading to the engagement of inexperienced workers, lack of enforcement and reform from the part of the authorities, lack of coordination between Design and Construction teams and that Health & Safety risks are more prominent than Technical Risks in the Maltese construction industry. Description: M.Sc.(Melit.) Wed, 01 Jan 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/118313 2020-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/90199 Title: Blockchain : identifying the potential, establishing the risks and relative mitigants for the banking and insurance industry Abstract: Objective: Locally the initial hype on blockchain was followed by passive interest. It was therefore opportune to present the financial services industry with a study to reveal the potential, risks and relevant mitigants blockchain provides for the insurance and banking sectors. Research was tackled through a process, establishing: - The potential advantages of adopting blockchain technology in the insurance and banking industry. - The current situation with regards to the integration of blockchain within the EU and other European countries. - The technology’s potential adoption in insurance and banking business models, identifying successful case studies. - The main risks and relevant mitigating considerations for this technology Design: The research from this thesis was sourced from; - Academic sources, including research papers and reports available on the internet. - Professional reports and papers from reputable research consultancies, the big 4 accountancy firms and world-renowned experts in the field. - Interviews with; 1. The players who locally were the key consultants mapping out the blockchain roadmap 2. Academics and regulatory bodies who have a strong overall vision of the marketplace and its challenges 3. The banking and insurance professionals who are key decision makers within their respective operations Findings The banking and insurance sectors are on an international scale slowly adopting blockchain within their operations. Blockchain has significant potential, but economies of scale are crucial to ensure viability. This is why the larger multinationals in these sectors are taking the decision and making the material resource investment in this regard. Others are adopting a wait and see approach before deciding to move forward, however, it is likely that such technology will also bring about a number of takeovers and mergers to achieve viability. There are still some challenges associated with the adoption of blockchain. Scalability in terms of transactional efficiency still needs improvement. Interoperability, the ability to interact with legacy and evolving blockchain systems and platforms is also being tackled. Risk issues arising are not dissimilar to other evolving cutting-edge technologies. Within a European context GDPR also presents some challenges, arising from the immutable and decentralised nature of blockchain. Solutions are being identified and established, but some are still in the theoretical stage or testing phase. Players in the industry will likely be tail-end followers because of economies of scale and governments will need to lead the way with initiatives, such as loading certain public records on the system to demonstrate the workability and effectiveness of the technology. Value and conclusion: The study undertaken demystifies an element of uncertainty and provides a bridge for the gaps in research existing on the subject matter. The approach adopted to tackle these gaps was two pronged; - a comprehensive understanding as to the potential of the technology, the evolving and emerging risk elements, challenges and relative mitigants; - the project and its accomplished objectives provide the industry sector players with a structured plan in gaining an insightful understanding when considering the adoption of blockchain. It also provides guidance on the finer and more complex technical elements. Description: M.A.INSURANCE&RISK MANGT. Wed, 01 Jan 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/90199 2020-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/67317 Title: The impact on motor insurance in Malta of the proposed changes to the motor insurance directive relating to the definition of ‘use of a vehicle’ : an analysis Abstract: The main aim of this study is to understand the effects of the potential outcomes of the MID, on Maltese insurance companies. The researcher chose to conduct a study on this subject because of the ambiguity that was created by the CJEU judgements in the Vnuk, Andrade, Torreiro and Juliana cases with regards to the definition of ‘use of a vehicle’. In order to try and do this, the researcher chose to conduct a study using a qualitative approach by conducting interviews with Maltese insurance professionals. By understanding the current effects on the market and the potential effects of the amendments, the researcher aimed to provide Maltese insurance companies with a forward-looking research in order to help them prepare for the potential effects of the amendments to the MID, on their companies. The researcher found that the main concern for these insurance companies, was that the current definition of ‘use of a vehicle’ in combination with the judgements of the CJEU, provided cover for certain circumstances that they were excluding in their policy wording. Insurance companies do not want to provide cover for racing, use on private land and use of a vehicle as a tool, since their current premiums do not charge for this additional risk. The researcher found, that if insurance companies are made to cover these additional risks, by means of the amendments to the MID, the insurers would have to increase their premiums and combine the tool of trade policy with the MTPL policy. Therefore, the researcher has concluded that there will be significant effects on Maltese insurance companies, if the amendments are finalised as discussed throughout this study. Description: M.SC.INSURANCE&RISK MANGT. Wed, 01 Jan 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/67317 2020-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/67316 Title: An assessment of insurance needs and opportunities in the Maltese commercial fishing sector Abstract: The purpose of this study is to get a clear understanding of the risk culture within the Maltese commercial fishing sector and of the fishermen’s perception and take-up of insurance. The insurance market is analysed from the perspective of fishermen and the impacts of moral hazard and adverse selection are investigated. Finally, the study finds possible solutions to help fishermen with the mitigation of risks. This study was conducted by the qualitative analyses of interviews carried out with a sample of the Maltese fishermen. Qualitative analysis was deemed appropriate for this research since little literature was available and therefore an in-depth understanding was needed. Interviews were analysed thematically to uncover the main themes. The Maltese Fishermen are characterised as being mostly risk-takers with minimal insurance take-up with regards to their vessels since they feel that they are in control of the risk. Foreign crew on the vessels are considered an added risk since they are out of the fisherman’s control so personal accident cover is sought after. The insurance market with respect to insurance for their fishing vessels is not efficient as a result of the large presence of moral hazard and adverse selection. Only the fishermen’s perspective is analysed in depth with regards to the risks they face with no input about the insurer’s opinion of fishing risk. The sample size may not be representative of the entire Maltese fishing community. Parties transacting business with the fishing community can gain a better understanding into the thought process behind their view of risk. Anyone interested in fishing as an occupation can get an idea of the risk involved to be able to make an informed decision. This study fills in the gap present in the literature about risk management in the fishing sector. Description: M.SC.INSURANCE&RISK MANGT. Wed, 01 Jan 2020 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/67316 2020-01-01T00:00:00Z