This manual is intended to provide only a general overview of the Owner Controlled Insurance Program and does not in any way alter or take precedence over the language in the actual insurance policies and contracts. What Is An OCIP? An Owner Controlled Insurance Program (OCIP) or wrapup program is a coordinated insurance program for construction projects.
An OCIP, unlike traditional construction insurance coverage, provides eligible participants of a construction project with general liability coverage under one policy. Regardless of the approach, the process seeks to ensure that traditional contractor insurance costs are removed from the contract price to track the OCIPs financial performance and establish the cost to be charged if the OCIP is terminated during the course of construction.
If loosely written, the insurance manual may leave an opening for the OCIP carrier to argue, for example, that the owner's umbrella coverage is excess to everything that the contractor has also put into place. Owner Controlled Insurance Program (OCIP) Insurance Manual INTRODUCTION The Yale University (Yale or Owner) Owner Controlled Insurance Program (OCIP 2. It is the Contractors responsibility to notify their insurance carrier as to the existence of an Owner Controlled Insurance Program for this project and to amend their insurance policies accordingly.
3. The statements in this insurance application are true to the best of my knowledge. 4. Owner Controlled Insurance Program (OCIP) Project Name Project Address OCIP Insurance Manual. This Manual is a Contract Document. TABLE OF CONTENTS Page 2 of 45 SEPTA OCIP DRAFT Manual Project Name, Project City, State Table of Content. The above Insurance Manual is in draft form; Alliant will customize the Insurance Manual for each project enrolled in OCIP. Safety Manual (. pdf) For each project enrolled in OCIP, the OCIP Safety Manual shall be included in the Project Request for Proposals or Specifications.
Contractors Insurance Procedures Manual Owner Controlled Insurance Program. Contractors Insurance Procedures Manual. for at Revised February, 2015. Contractors Insurance Procedures Manual Submission of OCIP Insurance Cost Worksheet and policy rate pages Home Legal Articles Insurance Law The OwnerControlled Insurance Program (OCIP) The OwnerControlled Insurance Program (OCIP) By Aaron Larson Law Offices of Aaron Larson.
If a general contractor is able to a better rate of coverage than the project owner, even after a markup, the project owner may opt for having the An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project (subject to the usual exclusions).
copy of the OCIP Manual to all of our Subcontract Firms. Page C2. OwnerControlled Insurance Program Manual: Appendix C, Exhibit C Version 3. 9 Issued 25 January 2018: Eli Lilly and Company Insurance Worksheet rates for PremisesOperations& ProductsCompleted Operations)