Alliant Insurance Services reported that it was chosen by New York\u2019s Metropolitan Transportation Authority (MTA) as the insurance broker for Phase 2 of the Second Avenue Subway project, a $2 billion project that was begun in 2025 and is expected to be completed over four years.<\/p>\n
As the broker for MTA\u2019s for Capital Plan Owner Controlled Insurance Programs (OCIPs) 1 and 2, Alliant said in a press release that it marketed and placed insurance for both programs and has provided all related OCIP services including administration, claims, safety and loss control.<\/p>\n
With the initial OCIP program, Alliant said it saved the MTA 2-3% of its estimated construction value, which the broker said factored into its winning the contract for the Phase 2 OCIP following a bidding process with three major brokers.<\/p>\n
The broker said its construction and public entity specialists had knowledge of the specific challenges relating to OCIPs and, in New York specifically, the regulations, labor laws and project owner requirements that impact clients.<\/p>\n
\u201cThe MTA win demonstrates Alliant\u2019s credibility and competency in broking the most complex construction projects in the public entity space,\u201d boasted Peter Arkley, president, National Brokerage, Alliant.<\/p>\n
Phase 2 of the Second Avenue Subway will create service for the residents and businesses of East Harlem, an area MTA says \u201chas been a subway desert ever since the Second Avenue El stopped service above 57 Street in 1940.\u201d Phase 2 will bring a subway line back to the neighborhood by extending Q line service north from 96 Street to 125 Street and creating three new stations at 106, 116, and 125 streets.<\/p>\n
MTA serves a population of 15.3 million people across New York City, Long Island, southeastern New York State, and Connecticut. Its network comprises the nation\u2019s largest bus fleet and more subway and commuter rail cars than all other U.S. transit systems combined.<\/p>\n
Source: Alliant<\/p>\n
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\n Agencies<\/a>
\n New York<\/a>
\n Alliant<\/a>\n <\/p>\n
\n No\n <\/p>\n