Dallas Approves Centralized Insurance for Convention Center Project to Aid Contractors

A groundbreaking insurance initiative aimed at enhancing competition and accessibility for contractors was unveiled during the Dallas City Council meeting on August 27, 2025. The city is implementing an Owner Controlled Insurance Program (OCIP) for the development of the new convention center, which will centralize insurance coverage and alleviate the financial burden on contractors.

City officials revealed that the OCIP will provide substantial coverage limits, including $320 million for excess liability and $50 million for contractor pollution liability. This program is designed to streamline the insurance process, allowing smaller businesses to participate in large-scale projects without the typical insurance hurdles that often exclude them.

Council member Grace expressed enthusiasm for the initiative, highlighting its potential to create opportunities for both small and large businesses. “This is a good thing for all businesses participating in that,” he stated, emphasizing the importance of fostering competition in the construction industry.

The OCIP is being facilitated through a partnership with Marsh, a leading global insurance broker, which is expected to enhance the city’s bargaining power in the insurance market. This strategic move is anticipated to lower costs and improve the overall efficiency of the project financing.

Additionally, the council discussed the financial aspects of the convention center project, confirming that the insurance costs will be covered under a $1 billion bridge loan previously approved for interim financing. This approach is projected to save money compared to traditional methods where individual contractors would need to secure their own insurance.

The council's decision to adopt the OCIP marks a significant shift in how the city approaches large construction projects, aiming to foster inclusivity and economic growth within the community. As the project progresses, city officials are optimistic about the positive impact this initiative will have on local businesses and the overall development landscape in Dallas.