Controlled Insurance Program
A controlled insurance program (CIP) allows an owner or contractor to bundle in one policy workers’ compensation, general and excess liability insurance, as well as on-site safety and claims management services, for all interests involved with the project - owner, contractor, and subcontractors of all tiers.
Programs such as Owner Controlled Insurance Programs (OCIP) or Contractor Controlled Insurance Programs (CCIP) are a common means of providing reliable coverage with appropriate limits for everyone involved in a site specific construction project. The liability for each tier is covered not only during the construction phase, but also for completed operations up to the statute of repose – as long as 10 years in some cases.
As the policyholder, you arrange and control the coverage, and your contractor and subcontractors simply credit their insurance costs back to you in their contracts. It’s a winning solution that gives you cost-effective coverage and peace-of-mind knowing that the project is properly covered.
Advantages of a
Controlled Insurance Program:
- Preferred risk management solutions
- Broader and uniform coverage
- Safe work sites
- Reduction in worksite accidents
Controlling claim costs - Reducing third-party lawsuits between owner, contractor and sub-contractors
- Designated project specific limits of liability
- On-site safety and claims management
- Drug testing
- Designated occupational health provider
- Return to work program