As a contractor, you want to keep your workers safe while avoiding any sort of litigation on the job. Wrap up packages such as OCIP or CCIP policies help you to keep both safety and integrity a priority and have become increasingly popular. However, there are some critical differences between them. An OCIP policy is controlled by the owner or developer of a project and sometimes the contractor, while a contractor manages a CCIP. Both policies ensure a safer work environment but with a CCIP, you might be able to get a higher level of deducts than with other kinds of coverage.
Both policies offer large projects most of the insurance needed and cover most of the workers so that you can ensure there are no gaps in anyone’s coverage and that any accidents are taken care of efficiently. An OCIP policy tends to have project limits, though, and CCIP policies may cover several projects. With a CCIP, you are also able to control the coverage terms, whereas the owner controls them for an owner-managed policy. The claims process also is typically controlled by the policy holder as well.
It’s important to look into all of your options before you start a construction project. Since contractors may control OCIP policies as well, you may find that either an OCIP or CCIP will work for your project.