OCIP Clause Samples
An OCIP (Owner Controlled Insurance Program) clause defines the insurance coverage provided and managed by the project owner for all or most contractors and subcontractors working on a construction project. This clause typically outlines the types of insurance included, such as general liability and workers’ compensation, and specifies the responsibilities of the parties regarding enrollment, compliance, and claims procedures. By centralizing insurance under the owner’s control, the clause streamlines coverage, reduces duplicative costs, and ensures consistent protection across the project, thereby minimizing gaps in coverage and disputes over liability.
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OCIP. Purchaser shall pay to Seller any amounts actually received by Purchaser or Property Owner from and after Closing under the OCIP, including any refunds or savings thereunder. Seller shall be responsible for any payments which may be required to be made by Property Owner under the OCIP after the Closing.
OCIP. “Exhibit C”-Replacement Contract Language
OCIP. Landlord acknowledges that Tenant, in connection with Tenant’s construction of the Resort, has established an Owner Controlled Insurance Program (“OCIP”). Landlord agrees that Tenant may satisfy all or any portion of Tenant’s insurance obligations by virtue of Tenant’s utilization of the OCIP while the same shall be in force and effect; provided that the OCIP shall, at a minimum, satisfy the required coverages.
OCIP. Sound Transit will purchase and administer an owner-controlled insurance program (“OCIP”) that will include project-specific professional liability and pollution/environmental liability coverage. The OCIP will provide coverage for professional liability and environmental exposure for its contractor, subcontractors and their professional consultants (collectively the “Contractor”). The limits of coverage will be at least $50,000,000 in the aggregate for professional liability and environmental, with a maximum retention under each coverage of no more than $500,000 per claim. Sound Transit expects these coverages to be bound and the OCIP in place by April 1, 2000. The policy period will extend through December 31, 2010. Sound Transit contractors and all subcontractors shall be required to participate in the OCIP and shall comply with OCIP risk management and safety requirements. The coverage provided by Sound Transit will be subject to terms, conditions and other provisions, including exclusions and limitations, contained in the policies issued to Sound Transit. Sound Transit intends to place all insurance with insurers having an A.M. Best and Company rating level of A- or better, Class VIII or better and sound Transit reserves the right to procure other coverages within the OCIP. However, Sound Transit has made no decision with respect to any such other coverages. The University shall be named as an additional insured under the OCIP policy. The University shall have the right to review the OCIP policy and to require that additional insurance be obtained if the University reasonably determines that the insurance provided is inadequate. Sound Transit agrees to consult with the University regarding its implementation of OCIP within 14 days of this Agreement’s effective date.
OCIP. Contact your Insurance Agent for this Certificate. It is your responsibility to notify your Insurance Agent to exclude all work to be done at this Project Site from your regular GL and WC policies. This certificate should also name Forest City Enterprises, Inc. and General Contractor as additional insureds on the auto liability and offsite general liability.
OCIP. Developer plans to purchase an OCIP program, Contractor will not be a part of such OCIP, however prior to the start of construction, Developer reserves the right at its sole discretion to require Contractor to enroll in such OCIP and if so, these insurance requirements will be amended as appropriate.
OCIP. A project specific insurance program that will be initiated and administered by the Judicial Council to provide many of the insurance requirements set forth herein during the Construction Phase that will insure the interest of the CMR, any Subcontractor or Sub-subcontractor performing Work at or incidental to the Project site. .
OCIP. CCIP-Owner Controlled Programs – Subcontractor is not responsible for providing any on-site insurance coverage when an OCIP-CCIP-Owner Controlled Program is in place.
OCIP. Owner Controlled Insurance Program.
OCIP. A project specific insurance program initiated and administered by the AOC to provide any or all of the insurance requirements set forth in Article 11. Insurance and Bonds, that will insure the interest of the Contractor, any Subcontractor or Sub-subcontractor performing Work at or incidental to the Project site.