Implementing a wrap-up or controlled insurance program (CIP) for
construction projects is now a common approach for improving project safety,
reducing the cost of risk, and ensuring all contractors are covered under a
broad liability insurance program.
The Wrap-Up Guide is your go-to resource and will walk you through
everything you need to know about designing, implementing, and administering a
CIP.
Nearly double in size, this expanded resource is a top-to-bottom rewrite
that gives you a practical, step-by-step road map for sponsoring a CIP.
Formatted as “how-to” guide, the format now follows the chronological order of
a CIP implementation timeline making it even easier for you to use.
In addition, CIP participants will find valuable insight that addresses how
to make sure the program is structured with a partnership approach that
emphasizes fairness to all parties. Fifteen construction risk and insurance
professionals contributed to the guide, providing a balanced treatment of the
perspectives of both wrap-up sponsors and contractor participants.
The retooled Wrap Up Guide also addresses dramatic changes in the
world of CIPs, such as accelerated use of general liability only programs in
commercial and residential projects. You'll also get insight into in the
use of CIPs for workers compensation only, pricing of coverage, and market
availability.
Exclusively with the online version, you'll receive an
additional appendix with state-specific wrap-up information. This
summary of current state-specific statutory and regulatory information will be
updated annually and you'll automatically receive the new content with your
subscription.
Additional updated content includes numerous activity checklists, videos,
helpful diagrams, and expanded exhibits. You'll find new chapters
addressing contractor insurance costs, structuring a CIP and marketing the
project to underwriters, and the process of setting up a CIP, as well as an
expanded discussion of potential pitfalls and problems with CIPs.
The Wrap-Up Guide covers these topics and more!
- Online Exclusive: State-Specific Wrap-Up Information
- Wrap-Up Usage and Terminology
- Benefits of a CIP
- OCIP vs. CCIP Issues
- Wrap-Up Dos and Don'ts
- Issues Important to CIP Participants
- Feasibility Study of Wrap-Ups
- Qualification and Selection of Service Providers
- Bid Documents
- Insurance Cost Tracking
- Insurance Program Design
- Rating and Risk Financing
Structures
- CIP Insurance Manual
- Risk Control
- Administration
- Maintenance of Wrap-Ups
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Table of Contents
Agents, Brokers, Consultants for Prospective CIP Sponsors,
Administrators
- Provides information to help advise owners and general contractors on
CIP feasibility
- Enables the provision of practical advice to contractor clients about
common wrap-up problem areas and on how to negotiate terms that will
minimize problems
- Provides guidelines on how wrap-ups should be administered.
- Can be used to provide training for new administrators
- Includes a checklist that can be used with contractor-clients to help
assess a CIP and potentially eliminate coverage gaps
- Offers tips on how to get contractor/subcontractor buy-in
Project Owners, Project Sponsors, Risk Managers, and Financial
Executives
- Provides information about the CIP concept
- Provides information about conducting a CIP feasibility analysis
- Enables the evaluation of pros and cons of the various ways to
identify, remove, deduct or track contractor insurance costs and
determine which approach fits the project
- Describes strategies for positively impacting the success of a
wrap-up
- Provides guidelines for preparing wrap-up manuals and other important
documents
- Offers practical advice about how to administer a successful
wrap-up
- Explains the essential coverages needed for a wrap-up and provides
helpful suggestions for choosing appropriate policy limits
Underwriters
- Presents information about CIPs from a sponsor point of view
- Provides information about assessing sponsor feasibility
- Offers details about wrap-up administration processes and how they
dovetail with or facilitate insurance company procedures
- Helps underwriters understand issues affecting participating
contractors and how to reduce or eliminate them.
Attorneys
- Provides a basic framework for understanding CIP concepts
- Offers a grounding in some insurance concepts relevant to CIP
projects and ways they differ from traditional insurance programs
- Discusses some custom and practice issues in CIP structure and
administration
CIP Contractor Participants and their Agents, Brokers,
Consultants
- Provides a basic framework for understanding CIP concepts
- Provides a checklist and guidance on items to consider before
participating in a CIP
- Provides advice on negotiating participation terms and coverage
- Discusses ways to protect participant interests throughout the CIP
process
- Presents ideas for mitigating risk and administrative burden for
participants
- Provides a checklist for tracking involvement in multiple CIPs
Exclusively with the online version, you'll get access to video
content including the popular session from the IRMI Construction Risk
Conference, OCIP vx. CCIP Debate - Making an Informed
Decision. You'll learn the
advantages and disadvantages of an owner controlled insurance program
(OCIP) versus a contractor controlled insurance program (CCIP) and the
risk management controls that should be in place in either type of
program. Applicable to both a combined workers comp and general
liability (GL) wrap-up or a GL-only wrap-up, you will gain a better
grasp of the issues to consider and options for funding the
wrap-up.
Your online version of The Wrap-Up Guide comes with a
digital copy of the Contractor's Guide to OCIPs, a handy
reference that provides guidance on 39 issues contractors should
consider when accepting coverage through a wrap-up or controlled
insurance program. This publication was prepared by the OCIP Task Force
of the AGC of America.
In addition, you will also get a copy of Inherent Coverage Issues in Controlled
Insurance Programs. This discusses
coverage issues emanating from wrap-up insurance programs such as
eligible participants, exclusions, duration of coverage, limits,
deductibles, subrogation, and more. Samples of policy language and
wrap-up manual provisions are provided to demonstrate the problems, as
well as potential solutions, and caselaw on relevant issues is also
examined. Templates to assist those charged with designing,
implementing, and reviewing are also provided.