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Owner Controlled Insurance Policy

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Owner Controlled Insurance Policy

An Owner Controlled Insurance Programme (OCIP) is an insurance policy taken out by an owner (employer) having works undertaken on their behalf. It provides cover as normally required for works undertaken under option B of the JCT standard contract conditions for new builds or option C for alterations to existing buildings.

When you appoint building contractors, our OCIP gives you cover if problems arise. As the policyholder, you’re fully insured instead of relying on multiple contractors’ insurance policies with undisclosed exclusions. 


Who it’s for

The Chubb OCIP policy insures all participants in a building contract:

  • Any company having work undertaken – the project ‘owner’
  • Main contractors
  • Sub-contractors.

What it covers

The policy can protect new builds and alterations to existing buildings with the following options of cover:

  • Fire (including malicious arson)
  • Storms and flood
  • Escape of water from fixed installations and temporary water supplies
  • Theft of materials
  • Accidental damage
  • Contractors all risks protection
  • Public liability (optional)
  • Non-negligent damage liability (optional)
  • Protection for the owner if a contractor ceases trading or can’t complete work for any other reason
  • Delay in Start-Up
  • Advance Loss of Profit for the owner and lenders.
Why Chubb
Why Chubb

We’re experts in owner-controlled insurance policies – and we care about your business

Whether your business is big or small, takes you around the world or just around town, Chubb is there for you. Our breadth of experience with owner-controlled insurance means we can provide the guidance and service you need, whenever you need it, wherever you may be.


Partnership that’s personal 
We work to understand your business and where you’re heading so we can be proactive about meeting your needs. We invest in getting to know you, your team and your customers. The goal: to help you see ahead, be ahead and stay ahead.

Creative problem-solving
Insurance isn’t one-size-fits-all – and neither is our approach. Our playbook is always evolving because we’re always helping clients avoid risk in smarter ways. That means we bring the latest thinking and a fresh perspective to solving your challenges.

Unmatched expertise and financial strength
We’ve served clients and partnered with leading organisations for more than 200 years. Our longevity, expertise and financial strength are the bedrock of our business. 





Apart from the clear cover advantages of the OCIP, Chubb’s long-term presence in the construction sector, along with its experienced underwriters, means you’ll benefit from our insurance knowledge and insights – protecting your financial interests at a fair premium for the risk. We also have a dedicated construction claims team to fully focus on prompt settlement of any loss.

Yes, existing buildings can be considered and included in the OCIP plan, subject to certain underwriting criteria.

Absolutely – this is automatically included in the OCIP policy wording.

Your OCIP policy can usually be extended, subject to full underwriting information and terms and conditions as agreed.


Talk to one of our experts

London contact:

Kevin Lutz
Technical Lines Manager, UK&I
+44 7766994231


UK&I regional contact:

Tom Finnegan
Regional Technical Lines Manager, UK&I
+44 7960977942