A modified version of a commercial wrap-up (also known as "consolidated insurance
program" or CIP) that allows a developer to purchase blanket liability coverage
for contractors performing construction work on behalf of the developer. Unlike
traditional wrap-ups, these programs often do not include workers compensation
insurance, which is central to most commercial construction project wrap-ups.
This concept developed out of necessity when the markets for subcontractor liability
insurance virtually evaporated in claims-prone areas. These policies provide
shared liability limits for covered contractors, as defined by the policy.