Responsibility equals risk
Contractors. Designers and engineers. Public and private partners. When you’re a construction developer or building owner, you’re responsible for the actions and safety of all these people — and many more.
And that means when any of them encounter liability, you do too.
Protect yourself with an owner-controlled insurance program (OCIP)
Being a construction developer or building owner has always been high-risk. It places you at the center of a closely regulated, competitive and potentially dangerous industry — and with so many people reporting to you, your risks and exposures are compounded.
That’s why an OCIP (or “wrap-up” insurance) is so vital for construction developers and building owners; it serves to coordinate general liability coverage for all participating contractors and other parties involved in a given construction project.
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