Owner-controlled insurance programs: Reducing O&M costs
The economic recession, increased competition from nonutility generators, and escalating Workers` Compensation costs are forcing electric utilities to reexamine how they finance the cost of risk. In addition to managed care programs, larger deductibles, and aggressive safety campaigns, utility risk and insurance executives are turning more than ever to Owner-Controlled Insurance Programs (OCIPs) to lower operation and maintenance (O&M) expenses. While electric utilities long have used OCIPs to control insurance costs during generating station and office building construction, this approach is now being employed for other projects. In the last few years, utilities have expanded the use of OCIPs to include scrubber installation, plant retrofit, and, more recently, for ongoing contract and maintenance work at operating fossil and nuclear plants. These OCIPs are also known as {open_quotes}gate{close_quotes} or {open_quotes}maintenance{close_quotes} wrap-ups.
- OSTI ID:
- 457861
- Journal Information:
- Nuclear News, Vol. 37, Issue 2; Other Information: PBD: Feb 1994
- Country of Publication:
- United States
- Language:
- English
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