Managing & Mitigating OCIP & Insurance Risk in Contracts
Jul 6, 2022 - 3:00 PM (ET) - Online
Hosted by CFMA
About this Event
Learn the history behind and reasons for owner-controlled insurance programs (OCIPs), as well as how OCIPs work and their associated advantages and disadvantages. In addition, discover the impact of California AB2782 that went into effect on January 1, 2013, and explore how to determine adequate OCIP limits, OCIP issues/stories, and insurance requirements/additional insured coverage.
After this session, attendees will be able to:
- Know how to determine if an OCIP insurance program has adequate limits and coverages
- Identify the five most common issues with OCIPs and how to handle them
- Identify best practices for subcontractor insurance compliance and technology solutions
- Understand how real-world examples of OCIP and insurance coverage issues impacted the bottom line
Level & Prerequisites
This is a group-live program at the Intermediate Level. No prerequisites or advanced preparation is required. A basic understanding of insurance products, as well as construction accounting and financial management, is recommended.
3:00-4:15 p.m. ET
Earn 1.5 CPE credits in the field of Management Services
Who Should Attend?
CFOs, Controllers, Risk Managers, Business Owners, CPAs, and Professional Advisors
- Free for CFMA members
- $69 for non-members
President of PentaRisk Insurance Services, an Acrisure Agency Partner
Jim Untiedt, CPCU, ARM, CRIS is President of Pentarisk Insurance Services, an Acrisure Agency Partner. Since 1982, Jim has provided Risk Management advice, business plan support, claim advocacy, and insurance program negotiation for the construction and development industries.
He has been an active member of the Silicon Valley CFMA chapter since 1988 and was a past chapter president in 2014. He is a frequent speaker on insurance and risk issues, having presented to a variety of industry associates, including CFMA. Jim is a graduate of U.C. Berkeley with degrees in Economics and Political Science and holds the Chartered Property and Casualty Underwriter, Associate in Risk Management, and Construction Risk Insurance Specialist designations.
Jim spends most of his time helping clients build businesses, increase profits, and reduce risk. Jim is also the Construction Practice Leader for Acrisure Construction. Acrisure is a Top 5 privately owned broker in the U.S. and is a Top 3 broker for construction based on 2 Billion in annual premiums written. With more than 180 offices and 12,000+ employees across the U.S., Acrisure represents more than 31,000 contractors.