Spotlight on Alternative Risk Solutions and Wrap-Ups
IOA’s Developer & General Contractor Practice provides specialized risk services that help developers and GCs avoid losses and effectively transfer risk to the appropriate parties. To prepare clients to participate in alternative risk solutions or controlled insurance programs, we provide contractual risk transfer consultation that includes review of subcontractor coverages and all project contracts.
Alternative risk solutions
• Captive insurers/risk retention groups— help with determining value, feasibility and appropriateness of shared risk
• Self-insured retentions instead of deductibles— evaluation of costs and benefits
• Third-party administrator arrangements
Controlled insurance programs
• Dedicated department specializing in OCIPs and CCIPs
• Feasibility studies that help GCs and developers understand total risk picture and ways to transfer, reduce or manage that risk
• Personalized client web page for overview and tracking of programs
• Assistance with management of premium
pricing, terms and conditions, cost adjustments
• Help with CIP audits
• Consultation on amending insurance
requirements for subcontractor agreements
Our expertise and advice support GCs and developers in getting to the next level. We help protect financial health and reputation and provide expertise on managing and transferring risk so the client is able to focus on the project. Our capabilities and intensive service instill confidence that the insurance aspect of jobs is properly cared for.