CCIP insurance could be exactly what your upcoming projects needs to be protected. Here’s why.
Contractor controlled insurance programs (CCIPs) are becoming increasingly popular. This type of wrap insurance covers everyone from the project owner down to the most minor subcontractor but – as the name implies – the contractor retains control. CCIP insurance could be just what your upcoming project needs for the right level of protection, and here’s a closer look at why.
To start, there are the obvious benefits of a wrap policy. With coverage for every party involved in the project, there’s never the need to point fingers if a claim arises. Plus, since everyone knows they’ll be covered under your wrap policy, it’s easier to attract the best subs to your build.
Beyond the more general wrap benefits, we need to consider the specific benefits of a contractor retaining control. Every contractor works to create a safe work environment, but he or she is much more motivated to do so when the claims avoidance (i.e. savings) are passed directly to him or her. Because the owner of the policy – the contractor, in the case of CCIP coverage – pays the deductible, he or she will feel the pain of a claim most acutely.
This is both a motivator and a support to the contractor. It motivates him or her to maintain a safe job site and avoid expense, but it also supports him or her because it puts the power to control and manage claims where it should be – on the job site. In short, with CCIP insurance protecting the job site is an extension of the contractor’s job duties, and one he or she is well equipped to handle.
If you’re sold on the merits of CCIP insurance, your next step is to find out where to get it. Look no further than Nahai Insurance Services! We’re experts on all kinds of wrap-up insurance – including CCIP coverage – and can put our experience and market insight to work for you. For all of your CCIP needs, contact Nahai Insurance Services.