Alliant Insurance Services has been selected by the Metropolitan Transportation Authority, North America’s largest transportation network, as the insurance broker for Phase 2 of the Second Avenue Subway, a $2 billion project that begins in September 2025 and is expected to take four years to complete.
Alliant saved the MTA approximately 2-3% of the estimated construction value through the original OCIP program, significantly reducing the cost of large capital projects.
Therefore, the MTA awarded the Phase 2 OCIP to Alliant following a competitive RFP process that included three prime brokerage firms.
The decision was reportedly based on the strength and depth of Alliant’s dedicated OCIP team, as well as the significant savings achieved during the initial program.
Alliant, which works with many of New York’s leading owners, developers and contractors, explained that its construction and public entity insurance experts are very familiar with the challenges unique to OCIP.
This includes a detailed understanding of New York’s specific regulations, labor laws, and project owner requirements that can have a significant impact on how these programs are structured and administered.
Peter Arkley, President of Alliant National Brokerage, commented: “The MTA’s win is a testament to Alliant’s credibility and ability to represent the most complex construction projects in the public entity sector.
“In addition to providing an insurance solution, a project of this size requires a partner capable of managing all associated administration throughout the project lifecycle, and our team has proven to have an exceptional ability to navigate the complexity of these combined risks.”
