A contractor-controlled insurance program (CCIP) is a type of wrap-up insurance policy that is designed to protect contractors, subcontractors, skilled labourers and other employees from high-cost liabilities.
Under a CCIP, a general contractor sponsors and controls the program. CCIPs can help contractors lower their total cost of risk. This is accomplished by centralizing the purchase and administration of insurance, either for a single job site or across all of a general contractor’s projects. Other benefits of CCIPs relate to the following:
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