Posted on 02.23.24

To OCIP or Not to OCIP, That Is the Question – Pros and Cons of Wrap-Up Construction Insurance

Source: https://www.jdsupra.com/, February 15, 2024
By: MIchael Jefferson, Davis Wright Tremaine LLP

Is an Owner Controlled Insurance Program right for you?

Developers and owners often find that obtaining insurance coverage for their construction projects can be confusing and unnecessarily complicated. When dealing with construction projects in excess of $50 million, an Owner Controlled Insurance Program (“OCIP”) (also known as Wrap-Up or consolidated insurance) may be an option for owners to consider when deciding on the optimal insurance coverage. Read more.

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