ACE Advisory explores the benefits of an owner controlled construction insurance program (OCIP) that provided safety, cost...
November 12 2015 - 5:17PM
Business Wire
After a Decade of Upgrade Work, Success: DC Water’s
Re-design of Pipes and Tunnels Demanded an Insurance Program
That Could Hold Water
While cities across the U.S. grapple with antiquated water and
sewer infrastructures, a new advisory released by ACE Group
demonstrates the value and cost savings of implementing a
continuous construction insurance program to support capital dollar
improvements. “A Decade of Success” outlines Washington, D.C.’s
water department, the District of Columbia Water and Sewer
Authority (DC Water), and their effective implementation of a
rolling owner-controlled insurance program (ROCIP) supporting a ten
year program designed to minimize insurance and claims management
costs. The advisory is the latest installment in ACE’s series of
insurance and risk management perspectives for risk managers.
DC Water worked with the ACE USA Construction division; ESIS,
Inc., ACE’s risk management services company; Albert Risk
Management Consultants; Aon plc and MFL Consulting to create the
ROCIP in an effort to reduce risks and losses. As a result of this
program, DC Water has significantly improved safety, streamlined
claims handling and avoided millions of dollars in insurance costs,
while allowing many prime and subcontractors to obtain
insurance.
“For any organization, managing a wide variety of construction
projects can be daunting and we are pleased that DC Water chose to
adopt the combined expertise of ACE and ESIS for their construction
coverage and high level risk management and safety strategies,”
said William P. Hazelton, ACE Construction & Environmental
Division. “Ten years later, the program, now in its third
iteration, continues to provide cost savings, remove obstacles to
participation from smaller and minority firms and foster an overall
culture of safety. We look forward to another decade of success
with DC Water.”
According to Tanya DeLeon, DC Water’s Risk Manager, “Everyone
involved in the program was committed to supporting DC Water’s
drive to meet its overall goals. Through commitment, communication,
collaboration and consistency, DC Water achieved our goals and
established important partnerships that will continue to support us
in our future endeavors.”
Key highlights from ACE’s advisory include:
- Successful development of an ongoing
ROCIP
- Improvements in safety through best
practices and accountability for contractors
- Enhanced claims management to reduce
overall claim frequency and cost
To read the full advisory, click here.
ACE Primary Casualty Construction Coverage for Wrap-Ups &
Other Project Specific Risks
ACE Construction specializes in multi-year Owner Controlled and
Contractor Controlled insurance programs (OCIP/CCIP) to address the
risks inherent in construction projects. These range from
stand-alone projects and rolling programs with multiple projects,
to large plant maintenance wrap-ups.
Coverage & Benefits of an ACE OCIP/CCIP:
- Workers Compensation
- Employers Liability
- General Liability
- Dedicated and experienced construction
underwritersSeamless multi-line program and coverage solutions
through the ACE Construction Industry Practice
- Dedicated risk engineering, claims
servicing, premium auditing and policy issuance from ESIS
Construction Risk Services.
- Flexible program designs and customized
program servicing capabilities
Click here to learn more about ACE’s Construction Industry
Practice.
http://www.acegroup.com/us-en/businesses/construction-industry.aspx
The material presented in this report is not intended to provide
legal or other expert advice. It is presented for informational use
only. Readers should consult legal counsel or other technical
experts, as applicable, to answer any specific questions they may
have. Product highlights are summaries only; please see the actual
policy for terms and conditions. Product offerings may vary by ACE
location.
ESIS®, Inc. (ESIS) is part of ACE Group, providing claim and
risk management services to a wide variety of commercial clients.
Insurance is provided by insurers within ACE Group. The product
information contained herein is a summary only. For more
information about ESIS, please visit www.esis.com.
About ACE Group
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance and life
insurance to a diverse group of clients. ACE Limited, the parent
company of ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index. Additional
information can be found at www.acegroup.com, or follow ACE on
Twitter, https://twitter.com/ACEGroupNA.
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version on businesswire.com: http://www.businesswire.com/news/home/20151112006685/en/
ACE GroupCarla Ferrara,
215-640-4744carla.ferrara@acegroup.com
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