Construction Wrap-Up or Controlled Insurance Programs are defined by The International Risk Management Institute as “A wrap up or a controlled/consolidated insurance program is a centrally procured and managed insurance and risk control program implemented for a construction project or a series of projects.” These programs can be divided into two categories: Single Programs and Rolling Programs.
Traditional Wrap Ups (Includes Workers Compensation and General Liability)
Single Program
1. Construction values of $100 million
Rolling Programs
1. Multiple projects on a single site $125 million over 2-3 years.
2. Multiple projects on different sites $150 million
3. Minimum size $20 million
General Liability Only Wrap Ups
Construction Wrap Up Insurance protects owners, contractors, and subcontractors against third-party exposures valued in the realm of $5 million or more. Construction insurance is complex and our highly experienced and knowledgeable team can assist you in ensuring you have adequate coverage, eliminating duplication or gaps in coverage. Every construction job is unique and Construction Wrap-Up insurance is job-specific coverage that lasts for the duration of the project and provides identical, sweeping protections for all contractors and subcontractors involved in the project. With Construction Wrap-Up insurance, you will enjoy broader and better protection while streamlining loss control and claims management. A good construction wrap-up program should offer three important advantages:
- Risk Reduction and Loss Mitigation
- Claims Management
- Constant Communication
Our knowledgeable staff has decades of experience in the construction industry and knows how to help you tailor a program that fits your needs and provide the coverage you want. Get in touch to learn more about the benefits of Construction Wrap-Up Insurance.
Other Possible Coverages in a Traditional Wrap Up
Standard construction wrap-up program coverage generally consists of workers’ compensation, general liability, and excess liability. Because every project is unique, it is a good idea to consider other coverages you may need for better risk management, including:
- Builders Risk
- Professional Liability
- Contractors Pollution
- Pollution Legal Liability
- Surety Subcontractor Default Insurance
Other Possible Coverages in a General Liability Only Wrap-Up
General Liability Coverage typically only covers general liability and excess liability but often excludes other important insurances, such as:
- Automobile insurances
- Contractors Equipment
- Professional Negligence
Our experienced team can assist you in determining what coverage you need to best protect your project, yourself, and your subcontractors. Contact us to get more information about tailored Construction Wrap-Up insurance.
Excluded Parties
While construction wrap-up insurance protects owners, contractors, and subcontractors, there are some people that are not covered, including:
- Vendors, suppliers, and delivery personnel
- Fabrication performed off-site
- Design professionals (architects and engineers)
- Pollution, abatement, or asbestos work
- At sponsor’s discretion, smaller contracts (e.g. $10,000 or less)
It is important to know who and what are covered in your insurance policy so that you can understand your risk exposures. We can help you identify potential exposures and tailor insurance coverage to provide important protections that minimize your risk.
Our Solutions
With modern day solutions to everyday problems, we offer:
Proof Of Insurance
24/7 digital proofs of insurance through our online portal. `
Risk Management Materials
We provide Posters, Brochures and Infographics for the workplace to create a culture of safety.
Apply Online
Online quick apply small contract bonds for up to $400,000
Great Support
Unwavering employees, dedicated to helping you find a unique solution to your problem.
Our Beliefs
We believe while 21st digital solutions make workplaces efficient and quick paced; but some projects require a human interaction that cannot be replaced by a digital portal. We pride ourselves on our staunch dedicated staff who are always looking to help your business and create solutions that solve your needs, because we understand that your needs are unique. At RRM we believe your more than just another number in our book, you’re a business partner, one we know we can keep for life.
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