Types of Wrap-Ups

A wrap-up insurance program is a single insurance policy or group of policies issued by an insurance carrier that affords insurance coverage to all enrolled construction participants for all covered work performed on a designated construction project or projects, subject to the limits of the policy. 

Wraps may be either purchased by an Owner (Owner Controlled Insurance Program or OCIP) or General Contractor (Contractor Controlled Insurance Program or CCIP).  In some states, such as Oregon, a wrap is called a Consolidated Insurance Program or CIP.

A wrap program may include GL and workers’ compensation or may only include GL and is usually written to provide completed operations coverage for the designated project or projects.

A rolling wrap covers all projects constructed within a pre-determined policy period, (usually capped at a maximum number of projects or units) but without a specific designation of all projects at time of binding.  A multi-project is a program with two or more designated projects.