An Analysis of an Owner Controlled Insurance Program Utilized by Wisconsin for State Funded Transportation Project

Download or read book An Analysis of an Owner Controlled Insurance Program Utilized by Wisconsin for State Funded Transportation Project written by Joshua Smith and published by . This book was released on 2011 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study was to evaluate owner controlled insurance program (OCIP) versus a traditional program by Wisconsin, for state funded transportation projects to see if it's more effective at preventing loss. The literature indicates that OCIPs have been used for many different kinds of construction for years but rarely used for transportation construction. Wisconsin has used it for the Marquette Interchange and is in progress with two more projects, I- 94 and US-41. This may become a regular way to provide insurance on Wisconsin's large transportation projects that are over $100 million dollars. This includes the Zoo Interchange that is an upcoming project for the state of Wisconsin. The results indicate that the Marquette Interchange performed below the national average, the I-94 is performing at national average and the US-41 well below national average. The data also indicated that the state is good at continually improving its OCIPs within the project cycle and from project to project at preventing loss. The conclusion of the research is that small adjustments to their management process should be made especially in clearly defining communication lines. Also the Safety Directors need to know the industry well and be effective communicators. The overall controller of the OCIP needs to be highly involved in the insurance process. The overall recommendation for the state of Wisconsin is to use OCIPs on their large transportation projects. Over the time of their projects and from project to project the projects show vast improvements and indicate that they have learned how to refine the OCIPs to make them effective at controlling loss.