owner controlled insurance program

OCIP vs CCIP: Wrap-Up Insurance Programs Explained for Construction Finance

A wrap-up is a single insurance program that covers everyone working on a project — owner, GC, every tier of subcontractor. OCIPs are sponsored by the owner; CCIPs are sponsored by the GC. When a wrap is on a project, AP workflows change in ways that catch accounting teams off guard: credits on subcontracts, enrollment paperwork, monthly payroll reporting, and project-specific COI exceptions. Here's what a finance team needs to know before invoices start arriving.