What are the advantages of an OCIP or CCIP over individual subcontractor insurance policies?

There are four primary benefits. First, bulk purchasing power: because the master policy covers the entire project, premiums are negotiated at scale, typically resulting in lower overall insurance costs than the sum of individual policies would produce. Second, streamlined administration: onboarding contractors and managing claims happens at the project level rather than across dozens of separate carriers and policies. Third, elimination of coverage gaps: when each subcontractor brings its own policy, gaps between those policies create uninsured exposure. A single unified program eliminates those gaps by design. Fourth, reduced litigation: with one carrier covering the entire project, there is no multi-carrier blame-shifting when a claim arises, which reduces the likelihood of cross-suits between parties.

What You’ll Learn:

For subcontractors, the benefit is equally direct: because project insurance is provided, they remove that cost from their bids, making them more competitive. In this episode of Talking Insurance with Shane, Shane Lipson, Managing Director and Certified Insurance Counselor (CIC) at Mt. Franklin Insurance, walks through each of these advantages and explains why wrap-up insurance programs are increasingly attractive on large commercial construction projects.

Get in Touch:

Starting your business the right way includes protecting it from the start. Contact Mt Franklin Insurance today to discuss your commercial insurance needs! Click here to get a quote.