You may hear them referred to as Wrap-Ups, OCIPs or CCIPs
(Consolidated Insurance Programs referring to Owner and Contractor
controlled programs respectively). Each of these indicates
a consolidated insurance program typically providing worker’s
compensation and general liability coverage to all enrolled
contractors and subcontractors for operations occurring at
a specific project site.
In short, it is the majority of the insurance for a large
construction project wrapped up into one tidy package.
But why? If individual contractors have their
own insurance, what is the need for a wrap up?
Relying on the individual policies of the hundreds of contractors
that will be on the site injects a great deal of risk into
a project. The basic concept of a wrap up fends off gaps in
coverage such as lapsed policies and inadequate limits. The
singular insurance carrier streamlines the claims process
allowing injured workers to get the help they need in a more
simple and efficient manner. Furthermore, wrap ups typically
include site safety programs which strive to avoid those accidents
in the first place.
Wrap Up Benefits
• Comprehensive insurance coverage
for all
• Higher limits of coverage
• Safer construction site
• Reduced litigation
• Elimination of redundancies in both cost and services
• Economies of scale
• Allows for more competitive use of MBE and WBE companies
