Owner Controlled Insurance Programs
An Owner Controlled Insurance Program (OCIP) or “Wrap-Up” program is a risk management
technique that provides insurance coverage for the owner, the contractors and lower
tiered subcontractors. By consolidating the insurance purchasing power of the entire
project, the owner can obtain the insurance for potentially a great cost savings.
Other advantages include expanded coverage, higher limits, greater control, a centralized
safety program and more efficient claims management. In certain circumstances, these
benefits might be outweighed by the detriments associated with this type of program,
such as, the administrative burden taken on by the owner or the potential cost savings
being eroded by losses on the project. Aurora has worked very closely with owners
and their insurance professionals to provide projections, gather contractor data
and administer project safety programs, ultimately resulting in successful implementation
of the program.
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