UNDERSTANDING INSURANCE FOR CONTRACTORS
required , and make sure you are part of the ‘ Named Insured ’ if others purchase coverage .”
As far as Owner Controlled Insurance Programs ( OCIP ’ s ) and Contractor Controlled Insurance Programs ( CCIP ’ s / Wrap-Ups ) are concerned , coverages which may be provided include general liability , builder ’ s risk , and worker ’ s compensation . The coverage applies only to on-site work .
“ With OCIP ’ s and CCIP ’ s , you will be informed of coverage limits and terms , and you may want to compare that to your standard coverage ,” said Miller . “ You may also be required to submit insurance rating information to validate your insurance credit . It should also be noted that owner-provided coverages should be excluded from all change orders .”
The full webinar can be viewed online .
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