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Construction Project Specific Programs

A project specific, owner coordinated/controlled insurance programme (OCIP) is a policy protecting the interests of all parties involved in a construction project with a single panel of insurers.

At Willis Towers Watson we organise tailor-made, project-specific and coordinated insurance programmes to meet all of the risk transfer requirements of a project from the pre-construction phase until practical completion and beyond.

The result is that:

  • All parties: i.e., owners, financiers, contractors, subcontractors, consultants and suppliers are insured, and voids in cover and disputes and claims between the parties are avoided
  • Consolidation can produce premium savings
  • Bespoke wordings to achieve wider cover
  • Claims are managed to ensure delays or interruption to the project are minimised. It is possible to remove the boundaries of the individual coverage classes and adopt a multiline approach that is non-cancellable by insurers and may encompass:
    • Construction/Erection ‘All Risks’
    • Existing Structures
    • Third-Party Liability
    • Consequential Loss (both Delay in Start Up and Business Interruption)
    • Non-Negligent Liability/Liability of the Employer
    • Environmental
    • Marine Cargo & Marine Cargo Delay in Start Up
    • Legal Indemnities including Rights to Right
    • Latent Defects
    • Contingent Employers and Motor Liability
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