OCIP Disadvantages To Owners Over Traditional Insuring Methods
- Increased administrator burden for broker and underwriter
- Increased accounting effort required to isolate contractor and subcontractor costs and insurance burden
- Potential for contractors insured under the OCIP to claim for non-project injuries
Read more about this topic: Owner-controlled Insurance Program
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“In that land all Is and nothing’s Ought;
No owners or notices, only birds;”
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—A.J. (Alfred Jules)
“In inner-party politics, these methods lead, as we shall yet see, to this: the party organization substitutes itself for the party, the central committee substitutes itself for the organization, and, finally, a “dictator” substitutes himself for the central committee.”
—Leon Trotsky (1879–1940)