OCIP Advantages To Owners Over Traditional Insuring Methods
- Lower costs to the property owner as bulk purchase of insurance lowers total cost.
- Owner controlled insurance broker and insurance underwriter requires more stringent safety and loss control procedures.
- Reduction in time required for contractors to obtain insurance certificates
- Workers Compensation X-Mod Factor falls on the sub-contractors not the Owners X-Mod Factor (enrolling the subs) into the OCIP
- Improved risk control and claim handling
- Peace of mind to the owner.
Read more about this topic: Owner-controlled Insurance Program
Famous quotes containing the words advantages, owners, traditional and/or methods:
“Can you conceive what it is to native-born American women citizens, accustomed to the advantages of our schools, our churches and the mingling of our social life, to ask over and over again for so simple a thing as that “we, the people,” should mean women as well as men; that our Constitution should mean exactly what it says?”
—Mary F. Eastman, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4 ch. 5, by Susan B. Anthony and Ida Husted Harper (1902)
“You are the majority—in number and intelligence; therefore you are the force—which is justice. Some are scholars, others are owners; a glorious day will come when the scholars will be owners and the owners scholars. Then your power will be complete, and no man will protest against it.”
—Charles Baudelaire (1821–1867)
“The traditional novel form continues to enlarge our experience in those very areas where the wide-angle lens and the Cinerama screen tend to narrow it.”
—Daniel J. Boorstin (b. 1914)
“The methods by which a trade union can alone act, are necessarily destructive; its organization is necessarily tyrannical.”
—Henry George (1839–1897)