Executive Risk Management Services

Owner Controlled Insurance Programs:

Typical Construction Project - Each Contractor/Sub-Contractor Purchases Its Own Insurance and Incorporates the Cost of Insurance and the Associated Markup into the Bid Price.
Controlled Insurance Program - The Owner or the General Contractor Purchases Insurance Coverage for Approved Contractors. In Return Each Approved Contractor Removes the Cost of Insurance From Its Bid.

Advantages:

Provides Insurance Limits Equal or Greater Than Most Standard Insurance Programs.
Virtual Elimination of the Administrative Burden of Coverage Control and Certificate Monitoring for the Contractor and Owner.
Enhanced Safety and Loss Control Program.
Claims and Litigation are Consolidated with One Primary Insurer and a Single Excess Liability Program as Opposed to Multiple Parties.
Reduces the Delays and Costs Associated with Litigation Following a Major Loss on Large Projects with Multiple Insurers and Attorneys.
Centralized Claims Management Can Help Reduce the Adverse Publicity Which Follows a Catastrophic Loss.
Completed Operations Coverage is Provided on a 3 Year or 5 Year Basis.
Completed Operations Provides Protection Against Third Party Claims Arising From Defective Work Which May Occur Years After Project Completion.

The main advantage the implementation of a Controlled Insurance Program will provide the Owner or the General Contractor is to reduce overall insurance costs by as much as 50%. The implementing of a Controlled Insurance Program will also provide more substantial insurance limits, a safer work environment for workers and the public, and more efficient claims handling for legitimate claims.

The success of a Controlled Insurance Program is only as reliable as the team who will be orchestrating the Program’s activities from inception to completion. The team lead by Wm. Rigg Co. brings a team of individuals with the most direct Controlled Insurance Program experience and resources that can be found in Texas.