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Meanings and definitions for OCIP
What does OCIP stand for? What does OCIP mean?
- An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project (subject to the usual exclusions).Although an OCIP may be set up in a variety of ways, a policy package usually contains, at a minimum, Commercial General Liability (CGL), excess liability insurance, workers' compensation (WC) and employers' liability (for regular civil actions arising from WC injuries).
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