What Does Owner Controlled Insurance Policy Mean?

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What does Owner Controlled Insurance Policy mean? Read on to discover the definition & meaning of the term Owner Controlled Insurance Policy - to help you better understand the language used in insurance policies.

Owner Controlled Insurance Policy

Owner Controlled Insurance Policy

An owner controlled insurance policy (OCIP) is an insurance policy in which one party purchases insurance coverage for all or the vast majority of people working at a construction site on a particular project. This includes regular construction staff, contractors, subcontractors, and other personnel who may be working on the site at any given time.

We hope the you have a better understanding of the meaning of Owner Controlled Insurance Policy.

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