Term describing a controlled insurance program (CIP) (wrap-up) in which the project
owner involves the prime or general contractor in identifying the project risks
and determining the best way to handle them. This approach allows the project
owner to capitalize on the contractor's expertise in managing construction risks
but also tends to garner more contractor support for the program than a traditional
owner CIP does. Some CO-CIPs allow the contractor to share
in the financial savings generated by the CIP.
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