Partner controlled insurance program (PCIP)

{
  "id": "MLC-T-INS-002503",
  "term": "Partner controlled insurance program (PCIP)",
  "field": "Insurance and risk management",
  "definition": "A wrap-up insurance program for a large construction project that is jointly controlled by the project owner and the prime contractor, with the contractor and subcontractors having input in how it is designed and run. It differs from an owner controlled insurance program, where the owner alone sponsors and controls the program, and from a contractor controlled program, which the contractor runs. The owner and prime contractor share the cost savings under terms they negotiate.",
  "abbreviation": "PCIP",
  "subject": "Workers Compensation",
  "url": "https://mlchart.com/terminology/insurance/partner-controlled-insurance-program-pcip/"
}