Controlled Insurance Programs – Wrap-Ups

Maximizing opportunity on larger projects.

At Conner Strong & Buckelew, we have an experienced team of professionals dedicated to the design, implementation, and management of Controlled Insurance Programs (a.k.a. wrap-ups). A CIP is an alternative solution for insuring large construction projects, typically those with contract values in the $150 million range.

Our team has provided custom-tailored programs insuring billions of dollars in project values for airports, bridges, commercial properties, correctional facilities, marine terminals, hospitals, gaming, hotels, residential developments, and universities.

Benefits of a CIP

A well-designed CIP offers the sponsor, an owner (OCIP) or Construction Manager/General Contractor (CCIP) a myriad of benefits including:

  • Better insurance protection for all program participants
    • Broader policy language
    • Higher limits of liability dedicated to the project
  • Lower overall cost of insurance for the project
    • Losses reduced through centralized safety and claim management services specifically designed for the project
  • Pricing stability – ability to negotiate firm rates for the length of the project
  • Eliminates litigation between all program participants since everyone is insured under the same program
  • Dedicated CIP Insurer adjusters
  • Increased opportunities for smaller, disadvantaged contractors who may not meet project insurance requirements

Your Conner Strong & Buckelew team provides a turnkey solution from program design to final close out including:

  • Complete marketing and program proposal
  • Account management
  • Claim management
  • Full array of Safety services
  • Program Administration

For smaller projects with construction values greater than $40 million, our team can arrange liability-only Controlled Insurance Programs which include many of the same intrinsic benefits outlined above plus lower deductibles and the elimination of collateral requirements.

Positive Impact on Your Bottom Line

Through our integrated risk management approach, we create a positive impact on your bottom line which can equate to material project savings. On traditional OCIP Programs, we consistently achieve savings close to 1% of the construction hard costs, but even higher savings are achievable. An example is a large new commercial development which is on track to achieve savings in excess of $8M on $500M of hard costs.

Practice Leader

Franz Wagner

Managing Director, Major Accounts

Licensed Professional Engineer; service in U.S. Navy Civil Engineer Corps

25 years of risk management experience

Practice Leader

Harry R. Johnson, CPCU

Managing Director, Major Accounts, Construction Practice Leader

35 years of construction industry experience

Connect With Us

fwagner@connerstrong.com
267-702-2178

hjohnson@connerstrong.com
267-702-1434

eBook: How to use CCIPs for safety and savings