Course Details
hours
7.0
price
$99.00
This course is not subject to discount pricing.
  • Course:
  • Internet
  • Exam:
  • Internet

Additional Credit Available:

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Controlled Insurance Programs

Reaccreditation >> IRMI Renewal

Course Description
Controlled Insurance Programs provides a basic understanding of controlled insurance programs (CIPs), commonly referred to as “wrap-ups,” as they are currently used in the United States. It discusses owner controlled programs and contractor controlled programs, outlining the requirements for a CIP to be feasible, possible problems that may arise and how to avoid them, the important insurance coverage issues for sponsors and participating contractors to consider, and administrative and safety programs that must be implemented to ensure success. The text seeks to maintain a balanced perspective, discussing sponsorship from both an owner’s and contractor’s viewpoints and including much information on the issues often encountered by participating contractors, along with suggestions for resolving them. Thus, this course should be helpful to those who are considering the possibility of sponsoring a CIP as well as those who work on projects insured in CIPs.

Learning Objectives
This is an intermediate-level course. Students who successfully complete this course will be able to

  1. recognize what a CIP is and the types of projects for which they are most appropriately used
  2. identify the reasons an owner or general contractor might wish to employ the CIP concept
  3. identify the possible problems that may be encountered by parties insured under a CIP and ways to mitigate those problems
  4. recognize the components of a superior feasibility study
  5. differentiate between contract issues to consider when utilizing a CIP approach
  6. identify important insurance coverage issues to address when designing a CIP
  7. identify best practices to follow when arranging a contractor’s “practice” insurance program to coordinate with a CIP
  8. identify issues that arise when bidding on a project to be insured under a CIP, including the approach to securing insurance deductions
  9. differentiate between important safety and administrative systems and processes to use on CIPs
  10. identify tactics a CIP sponsor can employ to earn trust and support for the CIP from the contractor participants and position the CIP to succeed

Prerequisites

A basic understanding of property, liability and workers compensation coverages.

CPE Field of Study

Management Services

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.


By IRMI

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference services. IRMI publications are considered the ultimate authority by leading insurance practitioners and even federal appellate courts when interpreting insurance coverage. Use the knowledge you gain from IRMI CE courses with confidence, knowing they are written by seasoned insurance professionals who employ diligent quality assurance standards to provide the most up-to-date, practical, and reliable information possible.