CCIP & OCIP: A Guide to Controlled Insurance Programs in Construction
A Controlled Insurance Program (CIP) is an insurance package designed to cover all liability and losses during an entire construction project. The cost of the premiums will also be affected by the amount of the deductible, and whether the policy includes self-insured retention (SIR) The deductible on a CIP policy works the same as any other insurance policy. ‘The insurance is truly excess,’ says Joshua Rogove. “The insurance are truly excess of the SIR,” says JoshuaRogove. The sponsor can purchase the wrap-up.