Home & Auto
Under a Contractor Controlled Insurance Program (CCIP) in Ontario, a general contractor sponsors and controls the program. CCIPs can help contractors lower their total cost of risk. This is accomplished by centralizing the purchase and administration of insurance, either for a single job site or across all of a general contractor's projects. Other benefits of CCIPs relate to the following:
CCIPs can give general contractors peace of mind, as they ensure that subcontractors are properly insured. In addition, because there are fewer insurance policies to consider, CCIP claims are streamlined and easier to manage.
CCIP coverage is typically cheaper than having parties purchase their own insurance policies.
Program sponsors - who are working in conjunction with their brokers, the insurer, and safety professionals - can maintain centralized safety and risk management services. By centralizing these services, program sponsors can reduce the frequency and severity of injury and property damage claims.
CCIPs can also provide general contractors with the ability to include subcontractors on a project who might otherwise not be able to bid on the job, given their limited scale and experience.
By covering all of the parties on a project under one policy, wrap-up programs reduce coverage disputes and subrogation issues between insureds and insurance carriers for covered claims that occur on the job site.
As a contractor, you work hard to create a quality product and satisfy customer expectations while building a profitable business. However, no matter how careful you and your employees are during the course of business, mistakes do happen.
In today's business environment, small disputes with customers over projects can quickly escalate into costly legal disputes.
Almost every contractor carries some form of Commercial General Liability (CGI) coverage. While these policies provide much-needed protection for bodily injury and property damage claims that occur as the result of a contractor's work, they typically don't account for all forms of negligence.
Errors and Omissions (E&O) policies can help contractors close gaps in their insurance coverages, providing coverage for claims related to the following:
As a contractor, there are a variety of insurance products to consider in Ontario. To ensure you are accounting for all of your unique risks - and to secure a policy that is tailored to meet your specific business needs - it's important to work a qualified insurance broker.
Enter the following information and one of our dedicated business insurance brokers will get back to you right away!