2024年10月7日 · Owner controlled insurance programs are complex insurance products that can offer great opportunities for cost savings, superior risk management, and streamlined insurance claims processing for property owners and/or construction project managers.

OCIPs (and CCIPs) offer several benefits, including potential cost savings, peace of mind and streamlined claims handling, among others. We’ve broken down the 10 most common questions we hear to help you decide whether an OCIP is right for your real estate project. 1. What is …

2024年6月19日 · To make the insurance situation clearer — and to save money — the property owner or general contractor can purchase an inclusive policy that covers an entire project, known as a Controlled Insurance Program (CIP). In this article, we’ll explain OCIP and CCIP, including policy coverage, advantages, and things to consider before purchasing.

2025年2月27日 · OCIPs provide a centralized insurance policy covering various construction risks. These policies typically include general liability, workers’ compensation, and excess liability insurance, ensuring uniform protection for enrolled contractors and subcontractors.

The OCIP or CCIP sponsor is responsible for paying premiums, handling deductible payments, managing claims, and ensuring all parties are enrolled (i.e. hiring a CIP Administrator). In return, subcontractors reduce their own insurance costs, as they are covered by the CIP, which can lead to the overall project to having a more streamlined ...

2020年11月3日 · It is known as an OCIP, CCIP, or CIP, acronyms which spell trouble for workers’ compensation carriers which zealously pursue recovery opportunities on behalf of their insureds.

Construction Program Guide Owner Controlled Insurance Programs (Wrap-Up Insurance) An Owner Controlled Insurance Program (OCIP), sometimes referred to as "Wrap Up Insurance," is the purchasing of insurance by the owner on behalf of the builder (contractor) rather than the traditional purchase by the contractor for the contractor and the owner for the owner.

2017年3月27日 · CCIP & OCIP workers Compensation Claims can negatively impact your EMR. Learn how OCIP/CCIP claims management can help navigate the issue.

2024年8月25日 · OCIPs are a type of Controlled Insurance Program (CIP), also known as wrap-up insurance programs, because they “wrap up” various types of coverage under one umbrella policy. The main objective of an OCIP is to streamline the insurance process, reduce overall costs, and provide comprehensive coverage that minimizes potential gaps in protection.

2012年5月24日 · An OCIP requires contractors to remove customary insurance charges from their contract price, including funding for claims if their insurance policies include a deductible. A well-constructed OCIP provides many benefits: