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:
Your Conner Strong & Buckelew team provides a turnkey solution from program design to final close out including:
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.
Managing Director, Major Accounts
Licensed Professional Engineer; service in U.S. Navy Civil Engineer Corps
25 years of risk management experience
Managing Director, Major Accounts, Construction Practice Leader
35 years of construction industry experience