Introduction

An INSURANCE “Wrap-Up” is a single coordinated insurance program that insurers the project Owner, General Contractor(s), Eligible Trade Partners, and other entities designated by the Owner for such work performed at the project site.

The INSURANCE “Wrap-Up” is an insurance program for construction projects. Unlike traditional construction insurance coverage, where each contractor provides his or her own insurance coverage, an INSURANCE “Wrap-Up” allows the owner of the construction project to purchase a master policy covering all construction and contractors associated with a given project. The INSURANCE “Wrap-Up” is designed to facilitate more effective defense against liability lawsuits, and simplify project administration by uniting all trade partners’ insurance coverage’s and exposures into a single policy.

INSURANCE “Wrap-Up” programs enable contractors to mount a stronger single entity defense in construction defect lawsuits, an area which plaintiff’s attorneys have had great success by exploiting the weakness of multiple defendants (general and each sub, regardless of their involvement).

The INSURANCE “Wrap-Up” approach offers an effective means of resolving these issues by unifying the project around the concept of controlled project management and maximum control over construction defects and liability issues for stable, well-established general contractors who have long-term relationships with quality trade partners.

The INSURANCE “Wrap-Up” facilitates a single strong line of defense against genuine and spurious lawsuits for general liability or construction defects claims. Rather than many lawyers and many insurance carriers who may be manipulated into settling a lawsuit at inflated costs, in the case of an INSURANCE “Wrap-Up”, there is only one insurance company and one legal firm controlling all of the data and documentation related to defending the claim. It also prevents defendant in-fighting which only benefits plaintiff’s attorneys.

As no sub-contractors’ insurance will be involved in any claim, decisions can be made between the developer and the carrier far more quickly and effectively. This dramatically reduces the legal expense in settling defect claims. Also, a wrap up carrier has no other coverage to pass off liability or share costs with, so they are more inclined to seek early resolution and settlement.

CourageSafetyTraining.com provides the online safety training web site that can be used by General Contractors and their Trade Contractor partners in an Insurance Wrap-Up. All employers , both General Contractors and Trade Contractors should be aware of their compliance obligations for safety training as mandated in the OSHA regulations; See Link Above "Start Here" on our home page.