LISD administration outlines Owner Controlled Insurance Program option for bond projects
Lubbock ISD administrators presented an Owner Controlled Insurance Program (OCIP) option for bond-funded construction, saying a consolidated district-wide policy could streamline claims and potentially reduce costs; no decision or action was taken pending broker analysis and further feedback.
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Lubbock Independent School District administration presented an informational overview of an Owner Controlled Insurance Program (OCIP) as an alternative to contractor-carried insurance for bond-funded construction projects. Administration said the district's insurance broker would evaluate contractor bids at no cost and noted the district could join an existing consortium that has already paid setup fees, allowing participation without initial costs.
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