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CONTROLLED INSURANCE PROGRAM (CIP) (WRAP UP) SET UP FORM FOR SERVICES Step 1 Please complete the attached SetUp Information Form in full. Step 3 Please send via facsimile to: Donna Brown Facsimile:

How to fill out controlled insurance program-set up

To fill out a controlled insurance program (CIP) set-up, follow these steps:

Gather necessary information:

1. Identify the project or construction site where the CIP will be implemented.
2. Determine the start and end dates of the project.
3. Collect information about the contractors and subcontractors involved in the project.

Contact an insurance broker or provider:

1. Reach out to an insurance broker or provider experienced in handling CIPs.
2. Consult with them to understand the specific requirements and coverage options available.

Determine the insurance coverage needed:

1. Assess the potential risks and liabilities associated with the project.
2. Determine the types of insurance coverage required, such as general liability, workers' compensation, and builder's risk insurance.

Set up the CIP policy:

1. Provide all the necessary information and documentation requested by the insurance broker or provider.
2. Review and compare different policy options and coverage limits to ensure they meet the project's needs.

Coordinate with contractors and subcontractors:

1. Communicate the CIP requirements to contractors and subcontractors involved in the project.
2. Ensure they understand their responsibilities and obligations under the CIP, including providing necessary insurance documentation.

Monitor compliance and documentation:

1. Establish a system to track and collect insurance certificates from contractors and subcontractors.
2. Regularly review and verify the validity of insurance coverage throughout the project.

Who needs a controlled insurance program set-up?

A controlled insurance program is generally beneficial for large-scale construction projects where there are multiple contractors and subcontractors involved. It is typically implemented by project owners or developers who want to centralize and streamline insurance coverage for the project. Contractors and subcontractors working on such projects may also need a controlled insurance program set-up to ensure compliance with project requirements and mitigate potential liabilities.

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What is controlled insurance program-set up?

A controlled insurance program-set up is a risk management strategy where the project owner purchases insurance to cover certain liabilities on a construction project.

Who is required to file controlled insurance program-set up?

The project owner or general contractor is typically required to file the controlled insurance program-set up.

How to fill out controlled insurance program-set up?

To fill out a controlled insurance program set up, the project owner or general contractor must provide information about the project, coverage limits, and other relevant details.

What is the purpose of controlled insurance program-set up?

The purpose of a controlled insurance program set up is to provide a single insurance policy that covers multiple parties involved in a construction project, reducing the risk of coverage gaps and disputes.

What information must be reported on controlled insurance program-set up?

Information such as project details, coverage limits, insurance carriers, and insured parties must be reported on a controlled insurance program set up.