What is an Owner Controlled Insurance Program (OCIP)?

What is an Owner Controlled Insurance Program (OCIP)?

An Owner Controlled Insurance Program, also known as OCIP, is a type of insurance coverage that is purchased and controlled by the owner of a construction project. This program covers all eligible contractors and subcontractors working on the project, and is typically used for large, complex construction projects where multiple contractors are involved.

What are the benefits of an Owner Controlled Insurance Program (OCIP)?

The main benefit of an OCIP is that it provides a single, comprehensive insurance program that covers all eligible contractors and subcontractors working on the project with onsite general liability coverage. This eliminates the need for each individual contractor to add the owners as additional insured on their own GL policies, which can be time-consuming and expensive. Instead, the owner of the project can purchase a single OCIP that covers everyone involved in the project.

Another benefit of an OCIP is that it can help to reduce the potential for disputes and litigation between contractors and subcontractors. Since all parties are covered under the same program, there is less potential for conflicting coverage or disputes over who is responsible for paying for damages or injuries.

OCIPs are typically managed by a third-party insurance administrator, who ensures that all contractors and subcontractors are properly enrolled under the wrap program. The owner of the project typically pays a premium for the OCIP, which covers the cost of the insurance.

Overall, an OCIP is a valuable tool for construction projects, as it provides comprehensive General Liability coverage for all parties involved, reduces the potential for disputes, and can save time and money compared to purchasing individual insurance policies.

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