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When to Use OCIPs and CCIPs

presented by Lorman Education Services
View the Lorman Education Services Profile and Course Listings

Summary

When to Use OCIPs and CCIPs

Workshop Description/Agenda

Learning Objectives
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.

Benefits
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 topic 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 topic will equip you with an understanding of your options for managing those project risks.

Agenda
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 Popular Today

Contractor Advantages of Wrap-up vs. Traditional Insurance

Contractor Disadvantages of Wrap-up vs. Traditional Insurance

Common Misconceptions of CCIPs

Considerations:
• Types of Projects
• Project Delivery Methods
• Impact on Contractor Relationships
• Bidding Methodology
• Administration

Faculty
William Buchan with Aon Risk Soluntions, Michael B. Lapicola with Faegre Baker Daniels LLP

Credits
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,ENG ,Additional credit may be available upon request.

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

Additional Information

Training Provider: Lorman Education Services

Course Topics: Construction Training > Construction Fundamentals

Training Course Summary: When to Use OCIPs and CCIPs


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