Owner’s Interest (OI)
OCP coverage supplements the owner’s additional insured status on the general contractor’s policy during construction.
- The general contractor will provide additional insured and primary and noncontributory status to our named insured, as well as adequate limits for the scope of work.
- Argo Construction provides up to $5 million/$5 million in general liability limits.
Owners and Contractors Protective (OCP)
Broad coverage that provides full general liability limits for property owners, including premises and completed operations. It can also include extended completed operations up to the statute of limitations for construction-related claims in each state.
- The general contractor handles all subcontractor activities and job site safety, providing the insured with hold harmless and indemnification language as well as additional insured status in their favor.
- At a minimum, to qualify for standard coverage, an executed contract and certificate of insurance from the hired general contractor will be required depending on the scope of work.
- Argo Construction provides access to both primary and lead excess ($10 million max).
Appetite & Availability
The main appetite for both OI and OCP is owners hiring a general contractor for residential, commercial, or industrial projects, both new buildings and renovations to existing buildings. Depending on coverage levels, a contract and COI with adequate insurance and limits from the hired general contractor may be required.
- Occupied buildings undergoing nonstructural renovations
- Demolition-only project
- Residential projects including condos and single-family homes
- Up to three direct-hire contractors for OI, one direct-hire contractor for OCP
- Single-project OCP preferred
- Limited appetite when GL/Excess for the hired general contractor is insured by Colony
- OI only – Extended product completed operations
- OI only – Minimum premium as low as $3,500 depending on the scope of work, term, costs, project state and hazard