At a minimum, an executed contract and certificate of insurance from the hired general contractor will be required, depending on the scope of work.
Depending on bank requirements, project specifics and other coverage in place, an OCP may be adequate coverage. But in many common scenarios, having only an OCP leaves large coverage gaps.
Our Owner’s Interest policies fill those gaps, contingent upon the general contractor:
- handling all subcontractor activities and job-site safety
- providing insured with “hold harmless” and indemnification language
- providing insured with additional insured status in their favor.