Published:  07-Apr- 2007  | Product Category:  Liability Insurance | Comments: 0         

The use of Wrap-Ups or CIPs (Controlled Insurance Programs) can be traced back to the late 1940s and early 1950s with the boom of mega-construction projects. Since then, Wrap-Ups have been used as a risk management technique for handling loss exposures related to single and multiple site construction activities, providing coverage for the job-site risks of the owner, construction manager, general contractor, contractors, subcontractors and design firms. Although the traditional Wrap-Up is most prevalent in the United States, the concept can apply to worldwide risks.

As the world's leader in Wrap-Up brokerage and administration, Marsh is staffed with specialists in insurance, surety, loss control, claims and construction law who offer customized risk control solutions that can result in lower injury rates and consequently lower insurance costs. Moreover, we use our relationship with underwriters to design programs that protect the project(s) risks at the most competitive terms and conditions.

Our local and national staff can provide an array of Wrap-Up risk management services, partnering with a client to create tailored programs that may include some or all of the following services:

• Placing project-specific policies such as Professional Liability, Builder's Risk, Environmental, Force Majeure/Liquidated Damage;
• Conducting seminars;
• Measuring the cost of risk;
• Providing benchmarking;
• Organizing and leading risk management planning committees;
• Developing safety procedures, incentive plans and audit programs;
• Analyzing risk and insurance contracts;
• Designing procedures manuals;
• Providing system/process training;
• Assisting with risk management audits; and
• Monitoring construction/design firm industry trends

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