Wrap Up Coverage
Offered by Empire Underwriters
Construction Contractors Wrap-ups Builders New ConstructionDescription
Empire Specializes in Wrap Up programs. Wrap Ups are a comprehensive General Insurance project-specific policy that combines coverage normally provided separately by different parties. In WRAP policies all participating contractors and subcontractors avoid having multiple carriers at odds in a claim settlement situation and allow for tighter, more consistent safety procedures. The 3 key elements of a Wrap Up Policy are Coverage, Control and Cost Savings.
Wrap-up policies come basically in two distinct types; Owner-Controlled, OCIP and Contractor-controlled, CCIP. Either wrap-up policy allows the owner to spread the risk out among different parties, while more systemically managing risk and providing a single insurance coordinated safety net for every company and individual involved in the project.
*No two Wrap Up policies are the same. Contact our office with any questions you may have or about a particular risk you are looking at.
** Premiums have come down significantly since the reduction in construction nationwide.
This is a great time to have your Owners and Contractors use Wrap Ups to manage risks and save money.
Appetite:
Wrap-up policies come basically in two distinct types; Owner-Controlled, OCIP and Contractor-controlled, CCIP. Either wrap-up policy allows the owner to spread the risk out among different parties, while more systemically managing risk and providing a single insurance coordinated safety net for every company and individual involved in the project.
*No two Wrap Up policies are the same. Contact our office with any questions you may have or about a particular risk you are looking at.
** Premiums have come down significantly since the reduction in construction nationwide.
This is a great time to have your Owners and Contractors use Wrap Ups to manage risks and save money.
Appetite:
- Residential Tract Developments, Commercial, Condo, Townhome, Apartment, Hi-Rise
- Many carriers Rated from AVII to AXV by AM Best
- Limits - $1/2/2 and higher available
- Builder Must Have 3+ Years Loss Runs
- Minimum Premiums Starting At $25,000 plus
- Minimum Deductibles Starting At $10,000 (BI/PD)
- Defense – Inside
- Blanket A/I, Primary, Waiver
- Subsidence (per Underwriting Approval)
- Requires PWC* Warranty and Wrap Administration (PWC Warranty Is With A Zurich Company)
Details
$25K Minimum Limit
Carrier Information
Non- Admitted AXV Carrier
Listing Contact
Jay Jaggers Property & Casualty Underwriter
Offered By
Availability 27 states
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Covered
Not Covered
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