Contractor Controlled Insurance Program (CCIP)
Client
Commercial Construction Company
Background
The client’s CCIP covers all projects annually that often encompass over 100 projects with a total volume of approximately $4Billion.
Project Scope –
Six separate Broker of Record letters needed, including extensions within a 3 week period for the client to finish their projects under the existing Wrap-Up program
- Broad range of project sizes (as small as $5M and as large as $1.2B)
- Nationwide applicability (valid in every state where CIPs permitted)
- Management of all brokerage and insurance (CIP, Builder’s Risk, Professional, OPPI, Pollution, etc.)
- Scalability
Challenge/Solution
Challenge
Solution
Management of 3 separate CCIP programs each with a different carrier to insure $Billions of construction volume
Development of close relationships with the leaders of major construction insurance carriers (Ace, AIG, Liberty Mutual, XL, Zurich)
Large volume program that is very complex and multi-faceted in scope
Utilize a focused, expert team to allow for flexibility in design and scalability and speed in operations (i.e. 7-8 projects close each month as the same amount start)
The need for consistent, efficient management of a complex program at a national level
Administration controlled centrally for consistency while projects managed locally with regional project managers
Results –
The CCIP specifically developed for the complexities and needs of the client has been recognized as an industry leader for it’s size, program design and innovation. Trans Hudson has received great exposure and accolades for the experience developed in the field of Wrap insurance.