What is an Owner Controlled Insurance Program (OCIP)?

An Owner Controlled Insurance Program (OCIP) is a type of insurance policy taken out by a property owner or project sponsor to cover virtually all liability and loss risks for a construction project. Instead of each contractor and subcontractor purchasing their own insurance, the owner provides a single consolidated policy covering all parties involved. OCIPs can offer cost savings, improved safety oversight, and streamlined claims handling for large construction projects. These programs are commonly used on large-scale, complex projects where the benefits of centralized control and potential cost savings are significant.