TriBuild has expanded the the Project Details function to allow for a new user definable insurance on the project in TriBuild CM.
The project insurance type drop down menu allows the user to select what insurances are required on this project.
- OCIP - Owner Controlled Insurance Program is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project
- CCIP - Contractor Controlled Insurance Programs typically provide general liability insurance, workers compensation and excess liability coverage for the length of a construction project for all or a majority of the parties involved, rather than requiring each participant to be responsible for the procurement of their own insurance.
- Traditional - Is where the contractor is responsible for providing their own general liability insurance, workers compensation and excess liability coverage for the length of a construction project.
If the project has either OCIP or CCIP there's not much to enter in, as the project insurance is being handled by other parties. If Traditional is selected the contractor must be able to record the types of insurance required for the project. To record different insurance types:
- Click the 'Add Policy' button to add blank lines
- Use the Category drop down menu to select the type of insurance
- Enter in the Amount, Date Ordered, Date Received, Expiration date, and any Comments the user wants to add.
Users are also able to upload copies of the insurance documents through the 'Add' file function.