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How To Use this Guide

This guide discusses 38 important issues for sponsors, project owners, contractors, and insurance professionals to consider when evaluating a controlled insurance program (CIP). The information is provided in a consistent format to assist with review, and each issue is analyzed under four subheadings, as follows: "Affected Coverage," "Description and Analysis," "Risk Control Measures," and "Where To Address." The title of each topic provides a brief description of the issue. The first subheading, "Affected Coverage," lists the insurance coverage potentially impacted by the topic. A brief description of each issue follows under "Description and Analysis." "Risk Control Measures" provides suggestions for mitigating or controlling the various risks associated with each issue. The last subheading, "Where To Address," provides a list of potential documents that either present or describe the issue to be amended to address potential risk.

With the assistance of this guide, readers can identify and understand their potential exposures, refer to relevant documents, seek to mitigate their exposures, and make risk decisions. Additionally, this guide also suggests methods for approaching program sponsors or CIP administrators to resolve potential risks.

This guide is merely intended to help sponsors, project owners, and contractors identify and address the various issues that may be caused by controlled insurance programs. It is not intended to prescribe any particular course of action. Nor does it present a consensus position on the best course of action for any particular situation. Each party must make an independent and reasoned determination of what would be in its best interest and what strategy to pursue.

Further, this guide cannot substitute for competent legal, accounting, or other professional advice. This guide is offered with the understanding that its publisher is not engaged in providing legal advice or in rendering any other professional service.

IRMI publication date for this page: May 2020