While cities across the U.S. grapple with antiquated water and sewer infrastructures, a new advisory released by ACE Group demonstrates the value and cost savings of implementing a continuous construction insurance program to support capital dollar improvements. “A Decade of Success” outlines Washington, D.C.’s water department, the District of Columbia Water and Sewer Authority (DC Water), and their effective implementation of a rolling owner-controlled insurance program (ROCIP) supporting a ten year program designed to minimize insurance and claims management costs. The advisory is the latest installment in ACE’s series of insurance and risk management perspectives for risk managers.
DC Water worked with the ACE USA Construction division; ESIS, Inc., ACE’s risk management services company; Albert Risk Management Consultants; Aon plc and MFL Consulting to create the ROCIP in an effort to reduce risks and losses. As a result of this program, DC Water has significantly improved safety, streamlined claims handling and avoided millions of dollars in insurance costs, while allowing many prime and subcontractors to obtain insurance.
“For any organization, managing a wide variety of construction projects can be daunting and we are pleased that DC Water chose to adopt the combined expertise of ACE and ESIS for their construction coverage and high level risk management and safety strategies,” said William P. Hazelton, ACE Construction & Environmental Division. “Ten years later, the program, now in its third iteration, continues to provide cost savings, remove obstacles to participation from smaller and minority firms and foster an overall culture of safety. We look forward to another decade of success with DC Water.”
According to Tanya DeLeon, DC Water’s Risk Manager, “Everyone involved in the program was committed to supporting DC Water’s drive to meet its overall goals. Through commitment, communication, collaboration and consistency, DC Water achieved our goals and established important partnerships that will continue to support us in our future endeavors.”
Key highlights from ACE’s advisory include:
- Successful development of an ongoing ROCIP
- Improvements in safety through best practices and accountability for contractors
- Enhanced claims management to reduce overall claim frequency and cost
To read the full advisory, click here.