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Case Studies: Construction Project

 

The Client
A developer with a long history of building in Southern California.
The Problem
The client approached Elkins Jones with a commercial construction development deal pending. The contractor had built insurance costs into the bid. The client was worried that the insurance costs were not only too high, but were designed to protect the contractor and not the developer. The client was also unsure of what coverages they should be purchasing.
The Solution
Elkins Jones immediately gathered the requisite information needed to quote course of construction coverage and setup a Owner Controlled Insurance Program (OCIP). It became clear that the contractor was using insurance as a "cost center" in its bid, and that the client was going to overpay for insurance. Elkins Jones was able to show the developer client what the insurance should cost. The developer later asked the contractor to remove insurance costs from the bid.
The Result
The developer used the Elkins Jones program going forward at a substantial costs savings relative to what the contractor had quoted for insurance in its bid.

 

Like to read more? Find out about other Elkins Jones success stories in the following case studies:

 

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