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Features and benefits of a PCIP
Commercial The owner can tailor the policy to cover all appropriate parties, as opposed to several potentially disjointed arrangements Adaptable to changes in the project, such as increased values and extensions of the period Non-cancellable policy for the duration of...
What is a Principal-Controlled Insurance Program?
Owners and developers often overlook the importance of taking a strategic approach to project insurance. We are often asked why companies would depart from the tried and tested approach of letting the contractor insure the project works – after all, the contractor...
Why project owners should consider a PCIP
Taking a PCIP approach enables the owner to: Arrange delay in start-up (DSU) insurance to provide an indemnity for lost revenue arising from a delay caused by insurable damage. DSU insurance is only available to the party arranging the CW insurance. Obtain finance for...
What does PCIP look like?
There are three core classes of insurance that form a PCIP: Contract Works This policy is designed to cover physical loss or damage to the contract works. If there is insured damage (e.g., a fire), this policy is designed to indemnify the insured for the cost of...
Resources
This Resources space is currently being built into a hub of useful content. For now, you can access our downloadable resources, with videos, interviews and more on the way. Check back soon as we continue to add new material.