Whether you are an owner, developer, contractor, or construction managers, you face countless risks on every project and need to protect your investments and all parties working on the job. That’s where an OCIP or CCIP Insurance plan comes in. A controlled insurance program is a single insurance plan designed to cover nearly all liability arising from a construction project.
Owner Controlled Insurance Programs (OCIPs) are purchased by the owner and Contractor Controlled Insurance Programs (CCIPs) are purchased by the contractor. These programs, also known as “wrap ups”, combine insurance coverage for all parties on a job site into one blanket policy. A Controlled Insurance Program (CIP) generally combines workers’ compensation, employer’s liability, general liability, and excess liability but can easily be adapted to include other protections.
What are the advantages of OCIP & CCIP Insurance:
- Reduced Cost
- Customized Project-specific Coverage
- Custom Coverage Timeline
- Improved Claims Handling
- Lower Risk of Accident Through Increase Focus on Loss Prevention
- Better Coverage
- Access to More Contractors