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What is an Owner-Controlled Insurance Program? (2-part series)

What is an Owner-Controlled Insurance Program? (2-part series)

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Quick Overview

Many large construction projects are insured through an OCIP. This course will explain how OCIPs can provide owners, brokers and general contractors cost savings and enhanced loss control.

$197.00

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Duration 2 hours
Location Online Webinar
Formats On-Demand
Instructor Bob TitusBob Titus

Part 1

Many large construction projects are insured through an OCIP. This course will explain how OCIPs can provide owners, brokers and general contractors cost savings and enhanced loss control. We will also discuss why OCIPs make sense even now, in a down economy whenthe commencing of new large construction projects has decreased. However, these programs can be complicated to structure and need to be closely monitored throughout the various phases of a construction project.

Therefore, we will also cover the following topics in this course:

  • Understanding the concept of an OCIP and how it differs from a conventional construction insurance program.
  • The roles of each party involved.
  • How the concept can save money.
  • The insurance coverage structure of single project vs. a multi project OCIP.
  • Who is insured; who is not – And why?
  • What insurance coverages are included.
  • How can an OCIP enhance the Loss Control and Claims Management functions on a construction project.
  • Anyone involved in the financing, broking or insuring of an OCIP will benefit from this class.

Part 2

Building upon what we learned and discussed in Part 1, real-life claim scenarios and coverage questions will be provided to each participant prior to the webinar. The actual resolution of each scenario will be discussed and explained based upon our knowledge of OCIP program structures and the coverages provided. 

Anyone involved in the financing, broking or insuring of an OCIP will benefit from these two sessions.

$197.00
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