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A Contractors Guide to CCIP Insurance - Construction Business Owner . . . A Contractor Controlled Insurance Program (CCIP) can deliver the same benefits as an Owner Controlled Insurance Program (OCIP) for a general contractor able to manage additional risks from subcontracted operations CCIPs can also potentially increase a firm’s competitiveness and profitability, but they do come with risks
A Contractors Guide to OCIPs - Construction Business Owner Magazine 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: Broad coverage and uniform limits for contractors of every tier Claim adjustments by a single insurer
Understanding Wrap-up Insurance Programs - Construction Business Owner . . . Understanding Wrap-up Insurance Programs Though wrap-up programs have advantages, problems can arise with construction defect claims One risk facing the construction industry is liability for defects in a company’s work Setting aside the complexity of modern construction, multiple tiers of contractors and suppliers are involved in a
Becoming a Successful CCIP Candidate - constructionbusinessowner. com Becoming a Successful CCIP Candidate Common traits of a good CCIP candidate include: - A highly-developed safety cultre that permeates throughout the company, including project managers, superintendents, tradesmen and subcontractors of ever tier - Experience in managing claims under a high-deductible program - A robust subonctractor
Experience Rating Modifiers - Construction Business Owner Magazine When insurance companies assign premiums, they compare an individual contractor’s loss experience to those performing similar types of work While a construction insurance company underwriter will employ several tools in accomplishing this, one common process is known as the Experience Rating Modifier (ERM), declared by the National Council
The Power of Wrap-Up Insurance - constructionbusinessowner. com A contractor-controlled insurance program is a CCIP, while an owner-controlled insurance program is an OCIP The difference is simply who sponsors the program, and, consequently, who assumes the most risk
Environmental Liability Insurance: Securing the Optimal Solution for . . . The other involves carrying some type of environmental insurance, predominantly Contractors Pollution Liability (CPL) insurance, either as part of a Contractor or Owner Controlled Insurance Program (CCIP OCIP) or straightforward project CPL insurance
36th IRMI CRC Secures the Future - constructionbusinessowner. com The International Risk Management Institute Inc , now known throughout the industry as IRMI, was founded in 1978 with the main purpose of providing education, by way of seminar and print publication, to risk managers, insurance agents brokers, underwriters and other insurance professionals