Improving Construction Cover with an Owner Controlled Insurance Programme (OCIP)
Owners and developers are enjoying a raft of benefits, including tailored, project-specific cover, and the potential for reduced costs, when they opt for OCIPs. They also have more control (and are less likely to experience coverage gaps) when claims arise.
Find out more about how industry leading companies are benefiting from this straightforward form of insurance in the Marsh Specialty product sheet, Owner Controlled Insurance Programmes.
- Why agreeing to a contractor controlled insurance programme (CCIP) doesn't mean construction risks will have been passed on to a project's main contractor.
- How an OCIP can optimise a company's insurance spend.
- Ways in which an OCIP approach can be more attractive to lenders.
Construction insurance is transitioning out of a soft market, bringing the threat of price hikes and coverage restrictions, so it's time for owners and developers to take their project insurance in hand.