Course description
When to Use OCIPs and CCIPs
Understand the types of risks addressed by insurance and the advantages and disadvantages of those three options.
Owners and contractors have been subject to increased litigation arising from risks created by construction operations. However, due to changes in the insurance market, contractors are increasingly challenged to secure insurance coverage to meet owner insurance requirements. As a result, many owners have turned to incepting an ownercontrolled insurance program or relying on a contractorcontrolled insurance program to address the project risks.
This course will arm you with an overview of the types of risks typically addressed by insurance and a review of the advantages and disadvantages of the three options of insuring those risks traditional insurance, ownercontrolled insurance, or contractorcontrolled insurance. Whether you have ongoing maintenance projects or you are planning to build a large project, this material will equip you with an understanding of your options for managing those project risks.
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Upcoming start dates
Who should attend?
This live webinar is designed for attorneys, project managers, presidents, vice presidents, owners, contractors, subcontractors, engineers, principals, contract managers, developers, architects, accountants, controllers, CFOs, insurance professionals, and risk managers.
Training content
- What Contractors Need to Know About OCIPs and CCIPs
- What Options Are Afforded to GC/CMs and Owners
- Traditional Approach
- Wrap-Up Concept
- Other Project-Specific Coverage Alternatives
- Wrap-Up Program Options
- Sponsor Advantages to Wrap-Ups
- Potential Sponsor Disadvantages
- Why Wrap-Ups Are Desired in Today's Environment
- Advantages of Wrap-Up vs. Traditional Insurance
- Disadvantages of Wrap-Up vs. Traditional Insurance
- Common Misconceptions of O/CCIPs
- Considerations:
- Types of Projects
- Project Delivery Methods
- Impact on Contractor Relationships
- Bidding Methodology
- Administration
Certification / Credits
Credits:AIA ,CLE,ENG ,CPE
Learning Objectives
- You will be able to recognize owner considerations for selecting the right insurance option.
- You will be able to define advantages and disadvantages of the three insurance options.
- You will be able to explain and understand design and construction risk.
- You will be able to identify those risks typically insured in construction projects.
Contact this provider
Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...