OCIP & CCIP Insurance Coverage:
Wraps and How They Can Protect Your Projects for Winning Results
Presented by:
Chris Mosley, Sherman & Howard LLC
Insurance is a critical aspect in managing the risk of a construction project and protecting the profits of construction professionals. However, coordinating insurance from numerous contractors and subcontractors, understanding the multiple coverages involved, and trying to make sense of the morass of policies, coverage issues, and insurance companies involved when a claim arises can be nearly impossible. Out of this confusion came the "wrap" policy, which was intended to simplify the insurance process through the issuance of a single policy covering all participants engaged in a construction project. However, wraps have their own issues, such as questions about who is covered, what is covered, how much is the premium, and how the premium should be allocated. Get answers to these questions and more during this informative webinar.
Among other things, your expert presenter will:
- Review the problems that arise when construction insurance is not coordinated
- Identify wraps: Owner Controlled Insurance Programs (OCIPs) and Contractor Controlled Insurance Programs (CCIPs)
- Show how OCIPs and CCIPs are structured
- Summarize how OCIPs and CCIPs alleviate the complexity of acquiring individual policies
- Explain how OCIPs and CCIPs address conflicts, duplication, and primacy of coverage
- Review the administration of OCIPs and CCIPs and address how the claims process differs from administration of traditional claims
- Examine the premium pricing for OCIPs and CCIPs and allocation of the expense to project participants
- Assess the circumstances in which OCIPs and CCIPs are preferable to traditional insurance
Who Will Benefit?
This webinar is a must if you're a public or private owner, construction manager, contractor, subcontractor, consultant, architect, engineer, attorney, or anyone responsible for coordinating insurance policies on your projects.
Meet Your Expert Instructor:
Chris Mosley is a member of Sherman & Howard’s Trial Group and is the chairperson and founder of the firm’s Insurance Recovery Group. He specializes in representing corporate policyholders in disputes against their insurers. During his career, he has helped businesses recover more than $100 million from insurance companies. His expertise extends to all types of commercial insurance policies in virtually all industries. He has particular expertise in insurance issues. In that area, he has spoken and written nationally on insurance issues that are important to the construction industry and has been involved in some of the most significant and groundbreaking legislation aimed at helping construction companies secure the coverage they purchased. He serves as a vice chairperson for the Insurance Coverage Litigation Committee for the American Bar Association's Tort Trial & Insurance Practice Section and is an invited Fellow to the American College of Coverage and Extracontractual Counsel.
