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You may hear them referred to as Wrap-Ups, OCIPs or CCIPs (Consolidated Insurance Programs referring to Owner and Contractor Controlled Programs respectively). Each of these indicate a consolidated insurance program – that typically provides worker’s compensation and general liability coverage to all enrolled contractors and subcontractors – for operations occurring at a specific project site.
In short, it is the majority of the insurance for a large construction project wrapped up into one tidy package.
But why? If individual contractors have their own insurance, what is the need for a wrap up?
Relying on the individual policies of the hundreds of contractors that will be onsite, injects a great deal of risk into a project. The basic concept of a wrap up fends off gaps in coverage such as lapsed policies and inadequate limits. The singular insurance carrier streamlines the claims process allowing injured workers to get the help they need in a more simple and efficient manner. Furthermore, wrap ups typically include site safety programs which strive to avoid those accidents in the first place.