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1. www.procore.com › library › ccip-ocip-insuranceCCIP & OCIP: A Guide to Controlled Insurance ... - Procore

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   Jun 19, 2024 · What is a Controlled Insurance Program (CIP)? A Controlled Insurance Program (CIP), also called wrap-up or wrap insurance, is an insurance package designed to cover all liability and losses during an entire construction project, or across multiple projects.

2. www.constructionbusinessowner.com › insuranceA Contractor's Guide to OCIPs - Construction Business Owner ...

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   May 24, 2012 · Most contractors operating in the United States have participated in an Owner Controlled Insurance Program (OCIP). Due to a variety of approaches adopted by OCIP sponsors, contractors have different opinions about them. Successful OCIPs provide a true collaboration among all project participants to manage risks and reduce total construction costs.

3. alsyedconstruction.com › understanding-collateralUnderstanding Collateral Warranty in Construction

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   Jul 30, 2024 · A collateral warranty is a legally binding agreement in construction contracts where a third party, typically a consultant or contractor, provides a warranty directly to a beneficiary who is not a party to the original contract.

4. thegreenlawgroup.com › article › understanding-wrapUnderstanding Wrap Insurance Policies - The Green Law Group, LLP

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   Feb 2, 2021 · The Difference Between a WRAP, OCIP and CCIPs. A general contractor sponsors a CCIP, a construction project owner is responsible for sponsoring an OCIP. These programs and generally referred to in the insurance industry as wrap-up or wrap policies.

5. www.assuredpartners.com › blogs › constructionWhat is a Controlled Insurance Program (CIP)? - AssuredPartners

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   Mar 29, 2023 · A Controlled Insurance Program (CIP) is commonly known as a “wrap-up” insurance program and can take the form of an OCIP (owner sponsored) or CCIP (contactor sponsored).

6. www.investopedia.com › terms › wWrap-Up Insurance: Definition, 2 Main Types, and Coverage Example

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   Sep 17, 2023 · Wrap-up insurance is a liability policy that serves as an all-encompassing insurance that protects all contractors and subcontractors working on large projects costing over $10 million. The...

7. People also ask

   What is a contractor-controlled insurance program (CCIP)?

   • A Contractor-Controlled Insurance Program (CCIP) is a wrap policy purchased by the General Contractor to cover liability on a construction project, or across multiple, ongoing projects. An Owner-Controlled Insurance Program (OCIP) is a wrap policy held by the property or project owner that provides comprehensive liability coverage on a project.

   CCIP & OCIP: A Guide to Controlled Insurance Programs in ... - Procore

   www.procore.com/library/ccip-ocip-insurance

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   What is a construction job site insurance program?

   • Construction job sites entail particular liabilities for property owners and contractors alike. To effectively manage this liability, many job sites now include an Owner Controlled Insurance Program (OCIP) or a Contractor Controlled Insurance Program (CCIP). These programs are becoming more and more popular as a way to insure construction projects.

   Understanding Wrap Insurance Policies - The Green Law Group, LLP

   thegreenlawgroup.com/article/understanding-wrap-insurance-policies/

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   What is a controlled Insurance Program (CIP)?

   • A Controlled Insurance Program (CIP), also called wrap-up or wrap insurance, is an insurance package designed to cover all liability and losses during an entire construction project, or across multiple projects. This policy covers all project parties, including the general contractor, subcontractors, sub-subcontractors, and the project owner.

   CCIP & OCIP: A Guide to Controlled Insurance Programs in ... - Procore

   www.procore.com/library/ccip-ocip-insurance

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   What is a contractor-controlled insurance program?

   • A contractor-controlled insurance program extends coverage to all the contractors and subcontractors signed up on the project. Be aware that wrap-up insurance policies may have explicit exclusions. Upon completion of the development project, the site owner will want to transition to more individual coverage as needed.

   Wrap-Up Insurance: Definition, 2 Main Types, and Coverage Example

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8. www.irmi.com › articles › expert-commentaryContemplating a Controlled Insurance Program—Part Two - IRMI

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   Mar 31, 2017 · Controlled insurance program (CIP) feasibility analysis is the process of considering whether a CIP is a viable risk financing option for a project. The analysis should not only determine if a CIP is feasible but also whether it is the best risk financing approach among all possible options.