One insurance carrier for your project means quicker claim turnaround and less time spent on paperwork and cross litigation before deciding who pays for your claim. Cross litigation is a major downfall of the traditional approach to large projects. It is expensive and creates hostility in the workplace by pitting individual’s and their independent carriers against one another, and consumes an inordinate amount of time with paperwork for everyone. The only parties that stand to benefit financially from cross litigation are the insurance company that eventually wins a suit and the attorneys involved for each side. With an OCIP/CCIP your insurance provider is concerned with your claim, not trying to make money off your injury, because they are paid up front and serve everyone on the site.
For example, let’s say I get hurt on the job. I report this to my insurance carrier, but it’s actually the plumber’s fault that I got hurt. My insurance carrier then sues his insurance carrier. They, in turn, sue the insurance carrier of the guy that hired the plumber, who decides that it is the fault of the prime contractor, then the general contractor, then the owner. After all this, someone blames it on the guy who got hurt in the first place, me, and we’re back to square one. In a Wrap Up the insurance carrier services your claim and gets you back to work.
