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Committee backs owner-controlled insurance program to support Cleveland Hopkins terminal modernization
Summary
The Transportation & Mobility Committee advanced an ordinance to create an owner-controlled insurance program (OCIP) for the Cleveland Hopkins terminal modernization, a seven-year umbrella insurance approach estimated at $45 million designed to lower barriers for small contractors and centralize claims management and safety oversight.
The Transportation and Mobility Committee on Nov. 14 advanced an ordinance to establish an owner-controlled insurance program for the Cleveland Hopkins International Airport terminal modernization program, an umbrella insurance arrangement the administration says will reduce costs and ease participation for smaller contractors.
Assistant Director Dennis Kramer, presenting the proposal, said the OCIP would “give us the ability to realize some economies of scale” by bundling coverage for the entire program rather than requiring each contractor to buy separate high-limit policies. He added the program would…
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