What is a wrap up?
Benefits
• Comprehensive
insurance coverage for all
•
Higher limits of coverage
•
Safer construction site
•
Reduced litigation
• Elimination
of redundancies in both costs and services
• Economies
of scale
• Allows
for more competitive use of MBE and WBE
companies
When
to Use a Wrap Up
•
When is a Wrap-Up a good idea?
How
It Works
•
Gathering the players
•
Getting started
FAQ
- From Your Perspective
• Sponsor
•
Contractor (aka subcontractors)
• Broker
|
FAQ >
Broker
As a broker, why would I partner with
CR Solutions on potential wrap up opportunities?
Independence
• We have no allegiance to any subcontractors which
would potentially cause a conflict of interest when negotiating
insurance credits.
• All of our revenue is dedicated to program services
– our revenue does not go towards commissions, salaries
of other departments, or any other corporate overhead typical
of the service units found within brokerage.
• You own your data – we’re just tracking,
storing and organizing it for you.
Specialization – ALL WE DO IS WRAP UPS!
You get a dedicated team of people who specialize in servicing
wrap up in your region of the country.
• Wrap-up specialization by region ensures that the
people handling your account know the general contractors
and subcontractors in your area, are familiar with the idiosyncrasies
of the insurance market in your region, and understand other
common insurance and construction issues.
Boutique, Unbundled, Customizable Services
• We offer the most flexible service packages available
beginning with our data center extending to full service administrative
capabilities.
• Due to the flexibility of our software system we can
customize reports specifically to meet your needs.
Relationships
• We consider insurance carriers to be our customers
as we receive a majority of our referrals through AIG, ACE,
Zurich, and Liberty. We have built unique relationships with
the insurance markets by customizing our services to meet
their operational requirements. In addition, we support their
customers to enhance wrap-up administration and performance.
Quality Assurance
• We negotiate and verify each and every contractor/subcontractor’s
insurance cost calculation by mandating the submission of
policy rating and declaration pages for verification. This
ensures that our customers maximize the financial benefits
when utilizing a wrap up insurance program.
Customer Satisfaction
Quotes from our clients:
• “One of the most important factors in making
this program a success has been CRS’ ability to communicate.
Not only do they keep the jobsite informed of the status of
the wrap-up, they also maintain open communications with every
subcontractor, assisting them through out the entire administrative
process.” CFO, General Contractor
• “Switching from a traditional insurance program
to the high deductible world of CCIP programs was very confusing
to us. CR Solutions was very responsive to our constant requests
for information. Their numbers were accurate and they provided
information very quickly in whatever format we requested.
They spent a lot of time on our jobsite making sure that our
project managers understood the process and were following
procedures. They were proactive in providing us information
which required our intervention.” CEO, Project Owner
• “Consolidated Risk Solutions provided real time
data via the internet. We could view subcontractor enrollments,
deductions and monthly reports. This greatly increased our
ability to predict the final outcome of the CCIP.” Director
of Risk Management, General Contractor
Still have more questions? Don’t hesitate
to send
us a note.
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