What is CCIP? CCIP stands for contractor controlled insurance programs which is one of the two types of construction wrap up insurance. The other type of wrap up insurance is owner-controlled, OCIP, but www.haughn.com/ states that contractors often receive better rates than owners do, so CCIP is more prevalent in the construction industry. These types of coverage are incredibly important for those in the construction industry as workers in this field are at one of the highest risks of injury on the job. Risks to workers translate into risks for employers who end up paying in time as well as money for anything their workers suffer from as a result of their job. Contractors must be sure they’re adequately covered and a CCIP is one way to accomplish that.
How Does CCIP Work?
CCIP provides a bundle of coverage for everyone involved with a construction project for the duration of the project. A CCIP helps to manage crisis and risk without a deductible while improving profits and offering completely cost inclusive premiums and eliminating redundant coverage. Coverage offered by a standard CCIP includes:
- workers compensation
- general liability
- umbrella coverage
With the guidance of an experienced insurance provider, you may find that a CCIP is the right choice for your next project.