Wrap-Up Insurance for Your Clients

Bundle the best that workers’ compensation in MA has to offer for your clients under one policy.

Wrap-up insurance–as the name implies–wraps workers’ compensation in MA, general liability, and umbrella liability coverage into one perfectly wrapped up policy. One of the many benefits that a wrap-up policy is that it covers all parties involved in a construction project, from the least involved subcontractor all the way up to the project owner. Before you purchase any wrap-up insurance, it’s important that you know the difference between OCIP and CCIP.

OCIP: Owned Controlled Insurance Programs are purchased and entirely controlled by the project owner.

CCIP: Contractor Controlled Insurance Programs are bought and controlled by the contractor. The difference between the two policies are not their coverage, but who owns and controls them.

Why does it matter? If you are acquiring the same coverage, why does it matter who owns them? It matters because whoever owns them will control the claims process. If you are a big part of the construction process, you may want to retain control of the insurance process. While all parties are covered if a claim does arise, either the owner or the project manager will push through the claims process–again, depending on who owns the policy.

If your client is a contractor who doesn’t have time to deal with administrating and dealing with a policy, then the OCIP could be a win-win for your client. If, on the other hand, the contractor wants to deal with every aspect of the project, the CCIP may be their best option.

At PMC Insurance Group, we’re experts on small business insurance and workers’ compensation in MA and can help you put the proper policies in place. To learn more about getting competitive coverage for your small business clients, contact us today.

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