Deduct
Insurance cost calculation method in which insurance costs are first included in the bid and then removed via a deductive change order.
Alternate Add
Insurance cost calculation method in which insurance costs are excluded from the bid, meaning the contract is bid net of insurance.
OCIP- (Owner Controlled Insurance Program)
This is a consolidated insurance program purchased by the owner typically providing workers compensation and general liability coverage to all enrolled contractors and subcontractors for operations occurring at a specific project site.
CCIP-(Contractor Controlled Insurance Program)
Just like an OCIP, this is a consolidated insurance program typically providing workers compensation and general liability coverage to all enrolled contractors and subcontractors for operations occurring at a specific project site. The main difference between an OCIP and a CCIP is that the wrap-up coverage is purchased by the General Contractor/CM instead of the owner.
