Top Cultural Benefits OCIPs Add to Your Business
So you’ve decided on an Owner-Controlled Insurance Program (OCIP) for your upcoming construction project. In doing so, your company will gain benefits of an OCIP, such as cost control, enhanced and uniform coverage, and claim control. Did you know that your business can also reap the cultural benefits of OCIP? Here are just a few you should know about.
Oftentimes, it’s difficult to find time to think about your company’s future, especially when you’re juggling the daily tasks that keep the business running. An OCIP will encourage you to shift your thinking from the short-term to the long-term. Under an OCIP, your risk stays with you for the length of the project and some years after it has been completed. This shift in thinking will be important as you evaluate your business’s tasks over the coming years.
In an OCIP, everyone has a role to play, from the Owner to the Administrators to the General Contractors. The project often lasts a number of years, which is why communication and risk prevention is so important for the whole team to consider. An OCIP inspires the team to work together to prevent the worst from happening.
Multiple factors affect an OCIP’s overall cost, and it’s important to consider if there are ways to implement a more lean process. Good risk management and a safety program can help to decrease the number of accidents on the job site, leading to fewer claims.
To have an expert assess your unique situation and help you decide on OCIP Insurance coverage, contact Nahai Insurance Services. Our staff of experienced wrap policy professionals can help you best protect your upcoming project.