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LOS ANGELES UNIFIED SCHOOL DISTRICT Owner Controlled Insurance Program The School Repair and Construction Program Insurance Manual Los Angeles Unified School District Insurance Manual Version 7.0

How to fill out owner controlled insurance program

How to fill out owner controlled insurance program:

1. Gather all the necessary information and documentation related to the project, including detailed project plans, construction contracts, and subcontractor information.
2. Review the insurance requirements outlined in the project contracts to understand the specific coverage needs and limits.
3. Determine the insurance carrier and policy that will provide the owner controlled insurance program (OCIP) coverage. This may involve obtaining quotes from multiple carriers and comparing their terms and prices.
4. Fill out the OCIP application form provided by the chosen insurance carrier. This form typically requests information about the project, the contractors involved, and the desired coverage limits.
5. Attach any additional documentation required by the insurance carrier, such as proof of workers' compensation insurance for subcontractors or project financial statements.
6. Clearly indicate any specific endorsements or additional coverage options desired for the OCIP.
7. Review the completed application form for accuracy and completeness before submitting it to the insurance carrier.
8. Follow up with the insurance carrier to confirm the receipt of the application and inquire about any additional information or documentation they may need.

Who needs owner controlled insurance program:

1. Owners or developers who oversee large construction projects may choose to implement an owner controlled insurance program (OCIP).
2. General contractors who are responsible for managing and coordinating multiple subcontractors on a project may also opt for an OCIP.
3. The purpose of an OCIP is to provide comprehensive liability and property insurance coverage for all contractors and subcontractors working on a specific project, eliminating the need for each individual party to obtain separate insurance policies.

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What is owner controlled insurance program?

An owner controlled insurance program (OCIP) is an insurance policy that provides coverage for all parties involved in a construction project, including the project owner, contractors, and subcontractors. It is typically obtained by the project owner and is designed to streamline insurance coverage and reduce costs.

Who is required to file owner controlled insurance program?

The project owner is required to file the owner controlled insurance program. It is their responsibility to obtain the insurance coverage and ensure that all parties involved in the project are adequately covered.

How to fill out owner controlled insurance program?

To fill out an owner controlled insurance program, the project owner should gather all the necessary information and documentation related to the construction project, including contractor and subcontractor details, project timeline, and scope. They should then work with an insurance provider or broker to complete the required forms and apply for the policy.

What is the purpose of owner controlled insurance program?

The purpose of an owner controlled insurance program is to provide comprehensive insurance coverage and risk management for all parties involved in a construction project. It helps streamline insurance procurement, ensures consistency in coverage, and can potentially reduce insurance costs for the project owner.

What information must be reported on owner controlled insurance program?

The owner controlled insurance program typically requires the reporting of various information, including project details (such as location, timeline, and scope), contractor and subcontractor information, projected costs, and specific insurance requirements.