Project & Risk Control, LLC

Project & Risk Control, LLC is a specialty group that provides services to brokers, contractors, owners, and lawyers in connection with construction risk, insurance and OCIP programs.

• We prepare project insurance feasibility models
• We assist with market submission and proporse underwriters unique to your client needs
• We manage the bid deduct process; work directly with the contractors
• We monitor job-site safety
• We perform field OCIP administration and prepare status and performance reports.

KEY BROKERS

Why should Key Market Brokers look at OCIPs / Wrap-ups?

1. These programs have contributed substantially to account production over past ten years.
2. These programs are excellent products to expand your client base and secondary business.
3. Your ability to provide this service helps block competition with existing clients.

Consolidated Insurance Program

Consolidated insurance programs are unique to the construction industry.  Basically, under a consolidated format, contractors’ traditional policies are replaced with dedicated and stand-alone policies designed to insure construction risks specific to a single project or a series of related projects.

Consolidated coverages include workers compensation, general liability, excess liability and others, such as, builder’s risk, environmental and professional liability. The industry refers to these plans as:  ‘Wrap-ups’, Owner Controlled or Contractor Controlled Insurance Programs (OCIPs and CCIPs).

Recently, when it is not practical in include workers compensation, some consolidated plans have focused only on commercial general liability coverages (GL Only) .

The objectives in combining coverages are to:

• Standardize project insurance coverages,claims processing, litigation management, and loss control measures for contractors performing work.
• Reduce the overall cost of construction risks through economies of scale, high deductibles, lower taxes, project incentives and cash flow insurance plans.
• Permits the insurance sponsor  the right to extend coverages to include owner, architects, engineers, contractors, subcontractors, consultants and other parties when required by contract.