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.
Appetite:
- Residential Tract Developments, Commercial, Condo, Townhome, Apartment, Hi-Rise
Program Highlights
- 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)