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December 13, 2016
With construction booming across the entire Puget Sound Region, Owner Controlled Insurance Programs (OCIP) have become a popular strategy to insure a project’s onsite assets. But these programs can vary in effectiveness based on a large number of factors, and may not always be the most appropriate coverage for a specific project. Parker, Smith & Feek’s John Schmidt explains in the Puget Sound Business Journal what OCIPs are, and explores some pros and cons of these unique policies.
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