What is a Contractor Controlled Insurance Policy (CCIP)?
A Contractor Controlled Insurance Policy (CCIP) is a type of insurance program that provides General Liability onsite coverage for all eligible parties involved in a construction project. Unlike an Owner Controlled Insurance Policy (OCIP), where the owner of the project purchases a single policy to cover all contractors, subcontractors, and other workers, a CCIP is purchased by the general contractor and covers all eligible parties working on the project.
What are the benefits of a Contractor Controlled Insurance Policy (CCIP)?
One of the main benefits of a CCIP is that it allows the general contractor to have more control over the insurance process for a construction project. Rather than relying on the owner to purchase and manage the insurance, the general contractor is responsible for securing the appropriate general liability coverage. This can be especially beneficial if the owner does not have experience with construction insurance or is not fully aware of the risks involved in the project.
Overall, a CCIP is a convenient and effective way for general contractors to ensure that all parties involved in a construction project are adequately insured for general liability coverage onsite. It provides comprehensive general liability coverage and allows the general contractor to manage the insurance process, ensuring that the project is properly protected.