Do I , the subcontractor have to report to the developer who is requesting payroll information for his OCIP, have to report money paid to subcontractors who receive a 1099?
If a contractor is enrolled in the OCIP and the OCIP ends and the contractor needs to complete his work under his own insurance shouldn’t a new contract be put into place for the remainder of the project since there is a wrap exclusion on the policy
and what happens to the premium that the contractor calculated for this job. Wouldn’t he be audited under his own insurance after the wrap ends
Speaking for the claims people in general where do I find info on subrogation or apportionment of liability to those within the sub-contractor coverage? When the finger-pointing takes place regarding acts for negligence how is that to be handled among lots of other liability and legal questions.
Very interesting concept and policy and one we are now in the middle of one of those claims involving a little of everything to start with.
Thanks.
OCIP replace the traditional method of insuring construction projects – that is where the various parties involved obtain their own insurance coverage.
When you have an OCIP wrap-up, you no longer need contractors and subcontractors to provide their own liability insurance. It’s a convenient, cost-effective way to provide a variety of benefits to all those working on the project. An OCIP wrap-up can be used for a single project or several.
And if you have several projects in different areas of the country, Nahai Insurance Services offers coverage for multiple job sites nationwide. In fact, we’re one of the only specialized insurance brokers that offer wrap-up insurance coverage on a nationwide basis.
When you have an OCIP wrap-up, you no longer need contractors and subcontractors to provide their own liability insurance. It’s a convenient, cost-effective way to provide a variety of benefits to all those working on the project. An OCIP wrap-up can be used for a single project or several.
And if you have several projects in different areas of the country, Nahai Insurance Services offers coverage for multiple job sites nationwide. In fact, we’re one of the only specialized insurance brokers that offer wrap-up insurance coverage on a nationwide basis.
Booyah!
Do I , the subcontractor have to report to the developer who is requesting payroll information for his OCIP, have to report money paid to subcontractors who receive a 1099?
If a contractor is enrolled in the OCIP and the OCIP ends and the contractor needs to complete his work under his own insurance shouldn’t a new contract be put into place for the remainder of the project since there is a wrap exclusion on the policy
and what happens to the premium that the contractor calculated for this job. Wouldn’t he be audited under his own insurance after the wrap ends
Speaking for the claims people in general where do I find info on subrogation or apportionment of liability to those within the sub-contractor coverage? When the finger-pointing takes place regarding acts for negligence how is that to be handled among lots of other liability and legal questions.
Very interesting concept and policy and one we are now in the middle of one of those claims involving a little of everything to start with.
Thanks.
OCIP replace the traditional method of insuring construction projects – that is where the various parties involved obtain their own insurance coverage.
When you have an OCIP wrap-up, you no longer need contractors and subcontractors to provide their own liability insurance. It’s a convenient, cost-effective way to provide a variety of benefits to all those working on the project. An OCIP wrap-up can be used for a single project or several.
And if you have several projects in different areas of the country, Nahai Insurance Services offers coverage for multiple job sites nationwide. In fact, we’re one of the only specialized insurance brokers that offer wrap-up insurance coverage on a nationwide basis.
When you have an OCIP wrap-up, you no longer need contractors and subcontractors to provide their own liability insurance. It’s a convenient, cost-effective way to provide a variety of benefits to all those working on the project. An OCIP wrap-up can be used for a single project or several.
And if you have several projects in different areas of the country, Nahai Insurance Services offers coverage for multiple job sites nationwide. In fact, we’re one of the only specialized insurance brokers that offer wrap-up insurance coverage on a nationwide basis.