OCIPs: The 5 Cultural Benefits for Your Company

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You’ve decided to implement an OCIP (Owner Controlled Insurance Program) for your next construction project. In doing so, your company will reap the benefits of an OCIP, such as cost control, enhanced & uniform coverage, and claim control. However, did you know that your company will also gain cultural benefits too? Let’s examine the top 5 cultural benefits of an OCIP. 

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Topics: Risk Management, Wrap-Up, OCIP & CCIP

Project Coverage Methods: Traditional Insurance vs. CIP

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Providing insurance for a Construction project can seem overwhelming at times! Basically, there are two options: the Traditional Insurance Approach and a Consolidated Insurance Program (CIP) also known as a Wrap-Up. So how can you be sure that you are properly protected?

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Topics: Wrap-Up, Traditional Insurance, OCIP & CCIP

The 4 Components of a CCIP and OCIP

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Whether this is your first construction project or you’re a seasoned expert, finding the right CIP is key to the success of your project and procuring the best rates. It’s important to remember that the most successful programs are from project participants who work as a team. Below are the 4 components for any CIP.

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Topics: Wrap-Up, Wrap-Up Administration, OCIP & CCIP

What to Look for in a Wrap-Up Administrator for your OCIP

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Whether you are an Owner, General Contractor or Developer, Wrap-Up Administration is the key to your OCIP. For a Wrap-Up to be successful, the wrap administrator must understand both construction and insurance. Wrap-Up administration is an overwhelming process, and there are specific things you should look for when looking for a partner.

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Topics: Wrap-Up, Wrap-Up Administration, OCIP & CCIP

What is Covered Under an OCIP?

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Jobsites have a number of risks and it is important to be covered when working on a project. An OCIP, Owner Controlled Insurance Program, is an insurance program that is purchased by the owner of a construction project. It is one insurance program for all tiers involved in the project - from the Owner to the General Contractor down to all levels of subcontractors.

Now you may be asking yourself, what exactly is covered under an OCIP? Let’s review some of the basics that are generally covered.

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Topics: Wrap-Up, OCIP & CCIP

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