Construction Project Risk Management Services

As an objective management consultant, Albert Risk Management can offer a number of advantages to an owner contemplating an Owner Controlled Insurance Program (OCIP) for a single large construction program or a so-called “rolling wrap-up” for multiple projects.

We can help at the very beginning by evaluating whether an OCIP, or an alternative controlled program or a traditional contractor-provided arrangement makes the most sense for the particular project or client.

We can act as:

1. a technical or educational resource during the feasibility and design phase,
2. a process guide during implementation, selection and procurement,
3. a management supplement during construction and close-out, or
4. an independent auditor at any time during the project.

In most relationships, we act on behalf of the owner as both a technical resource and a risk manager, directing brokers, overseeing service providers and working with other advisors.  We act as the owner’s representative in the specialized area of construction risk management.  As part of the owner’s management team, we provide advocacy, understanding and expertise.

While we do not “administer” OCIPs in the same sense as broker/administrators do, we help our clients manage the implementation process, the OCIP program and their other risk-related service providers.  We provide the expertise and experience on our client’s management team.

Additionally, we provide similar services to general/prime contractors on Contractor Controlled Insurance Programs (CCIP's).

OCIP/CCIP Management Services

Among the services we provide on OCIP's or CCIP's are:

• Education and feasibility
• Contract development
• Program design
• Broker or administrator selection
• Regulatory compliance and approval assistance
• Insurance procurement
• Service procurement
• Communication and training
• Contractor/designer contracting/bidding assistance
• Ongoing administrator performance evaluation
• Program monitoring, maintenance and close-out

OCIP/CCIP Audit Services

Owner or Contractor Controlled Insurance Programs are typically chosen for financial reasons, including construction cost reductions, reduced losses, improved safety and economies of scale in the purchase of insurance.

Critical to the financial success of an OCIP/CCIP is the administration of various component tasks by the owner, insurers, administrator and enrolled contractors.  To achieve the desired financial results, performance must meet the objectives and standards adopted for the program.  We conduct OCIP/CCIP audits for our clients to help them ensure that performance standards are met and opportunities for adjustment or improvement are provided.

For more information please call 781-449-2866 and ask for Bruce MacDonald or click here to send an email.