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.
Let’s build an insurance program to fit your project
Once reserved for construction projects that exceeded $50M, OCIPs are now frequently used to provide blanket insurance for much smaller residential construction and renovation jobs.
Our construction developer and owner insurance specialists can help you obtain favorable terms and rates, identify and close any coverage gaps, and structure a program that meets your exact needs.
Contact a HUB developer and owner insurance expert to get started.