A single insurance program that covers the owner, GC, and all subs on a large project under one policy.
Wrap-up insurance is a consolidated insurance program purchased for a single project or portfolio of projects that covers the owner, general contractor, and all enrolled subcontractors under one set of policies. An Owner Controlled Insurance Program (OCIP) is purchased by the project owner; a Contractor Controlled Insurance Program (CCIP) is purchased by the general contractor. Wrap-ups are typically used on projects exceeding $50–$100 million to reduce coverage gaps, eliminate duplicate policies, and centralize claims management.
The state purchases an OCIP for the $300 million convention center expansion, enrolling all subcontractors and eliminating the need for each trade to carry separate CGL policies.
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