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Wrap Insurance OCIP & CCIP
When you want it done Right and you want it done FAST!
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| "Developers and General Contractors have learned to trust Contractors 1st Insurance Services for all their Wrap-Up/OCIP, Builders’ Risk, Property and Workers’ Compensation Insurance needs."
OCIPs & CCIPs, "Owner-Controlled Insurance Programs" or "Contractor-Controlled Insurance Programs" are a type of Wrap-Up program. The concept is simple. "Wrapping up," or "bundling together" the liability needs of large projects.
The Owner, Developer, or General Contractor, purchases it covering the entire project including all contractors and subcontractors. The Owner, Contractor or Controller of the policy may then recoup some of the cost of the insurance from their sub-contractors.
OCIP or CCIP policies typically concentrate on General Liability, but they can easily be tailored to cover; Workers’ Compensation, Employers’ Liability and Excess or Umbrella Liability. In addition, an OCIP can include Builder’s Risk, Professional Liability for design professionals, and Environmental Liability insurance coverages. For the Owner, the possibilities are very attractive.
Advantages of OCIPs
- Broader insurance coverage with higher limits
- Reduced losses from more effective comprehensive safety and loss control programs
- Improved claim handling & loss control
- Reduced amount of time obtaining certificates, and proving insurance coverage
- Insurance requirements are no longer an problem for contractors bidding on the job
- Lower construction costs from the "bulk" savings on insurance
To learn more about OCIP / Wrap Up Insurance click here
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Testimonials |
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"e-wrapinsurance.com Creates Big
Dollar Savings for the Developer
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– Insurance Strategies West |
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– National Society of Agents for
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| Whether you're looking for Wrap-Up OCIP Insurance, Builders’ Risk, General Liability, Worker’s Compensation, Commercial Auto Insurance or coverage for your Commercial
Property or Tools insurance, E-WrapInsurance.com's dedicated team of highly qualified professionals is committed to finding the best price and coverage options to
protect you and every aspect of your company. No matter what kind of contractor insurance you may need, contractors general liability, contractors workers comp, general
contractor insurance, sub-contractor insurance, electrician insurance, heating and a/c insurance, builders insurance, general liability insurance for plumbers, painters insurance,
roofers insurance, or liability for drywall, concrete or masonry, E-WrapInsurance.com will shop as many as 46 top rated insurance carriers to offer you the best value
and price for your Contractor Insurance coverage and save your money! |
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E-Mail us at: vickie@contractors1stinsurance.com
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*The above terms and opinions are to be used for descriptive and reference purposes only. Please review your individual policy for full definitions, exclusions and endorsements. Should you have any questions, please contact your Broker or Agent. |
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Contractors 1st Insurance Services
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History of OCIPs
OCIPs have been around for more than 4 decades. Popular with government entities, they’ve experienced noticeable growth of late. An increase in the number of large cap projects, the booming high-tech sector, and and expanding (and sometimes contracting) economy, have heled to redefine insurance agreements to better suit Owners of larger projects.
OCIPs vs. Traditional Policies
Traditionally, an Owner and a contractor draw up a contract with a clause stating the contractor shall hold the Owner harmless for any loss arising out of the execution of the contract. This type of clause usually serves to protect the Owner, and mitigates the Owner’s contributory negligence exposure.
In addition, the project Owner requires the contractor purchase and maintain adequate insurance with specified minimum limits of liability. Owners require contractors to provide Commercial General Liability, Workers’ Comp and Employers Liability coverages. The Owner also requires the contractor name the Owner as an additional insured on the contractor’s liability policies; this ensures the contractor will defend the Owner in the event of a claim.
Administration of your OCIP
A third party administrator along with Contractors 1st Insurance Services, will help you set up the program. Included in the program are; contract wording, loss control, the establishment of a safety program and contractor sign-up. Once established, the Owner or General Contractor will take over responsibility for the safety program and loss control. As your OCIP partner, Contractors 1st Insurance Services professionals are easily available to help you with any questions you have. |
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