Basic things to get started:
- Is project residential or commercial?
- Is the insured putting out an RFP? Or are they limiting brokers?
- Will they be assigning markets?
- Is this for multi-line OCIP (General Liability, Excess Liability, Professional Liability, Workers’ Compensation, Pollution)? Or GL only? Or some combination?
- Application (we will provide when we know if this is residential or commercial project);
- Details of project – this is usually the start date, end date, estimated construction costs, how will they handle change orders? How will sub-contracts be awarded?
- Has the insured built other projects under an OCIP?
- Has project financing been finalized?
- Copy of the subcontract agreement they plan to use (requires modification of wording for the OCIP);
- Soils report;
- Environmental studies completed;
Has insured identified the GC?
If yes, we need name, years of experience and 5 year’s loss history for the GC for those lines of business that insured proposes to include in the OCIP program;
Do they wish to have assistance with the bid review (from subcontractors)?
Do they plan to recover some of premium costs using bid credit recovery?
Do they want to recover real credit (most accurate)?
Or do they want to issue offset based upon industry averages (easier)?
Once we identify potential insurer partner we will procure a wrap administrator’s services tailored to the clients end desire;
Have you handled any Controlled Insurance Programs in the past?
Will you want proposal presentation assistance? (will affect the fees that are charged by 3rd party participants)