Since 2002, we’ve developed custom software to simplify the wrap-up process.

Our top-tier, proprietary technology boosts efficiency and contains costs.
We offer these industry-leading resources to administrators, brokers, wrap-up clients, carriers, and contractors.

WHEN IS A WRAP-UP A GOOD IDEA?

  • Either the Owner or General Contractor is willing to act as a “Sponsor” and, depending on the level of risk involved, increase savings potential while gaining greater control over construction related risks.
  • There is a need to ensure adequate coverage for all contractors of every tier by controlling the type, amount, and quality of insurance coverage protecting the site.
  • A desire exists to level the playing field allowing small, minority, and women owned businesses to more effectively bid on available contracts.

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  • The project (or combination of projects) exceeds $100,000,000, excluding soft costs such as land acquisition, design and engineer costs.
  • One consistent Safety Program is necessary for the entire project.
  • Traditional insurance leaves room for coverage gaps and under-insured losses.
  • There is a wish to calm the chaos by having one insurance company managing the entire site, rather than one insurer per subcontractor.
  • The project itself is high profile or being constructed in a high profile location.

PROGRAM SPONSOR

There must first be an entity interested in purchasing the program. This can be an owner, construction manager, general contractor, lender, or another party with an insurable interest.

INSURANCE BROKER

  • A licensed insurance professional is required to broker the program on behalf of the sponsor
    Insurance Provider (Carrier).
  • The insurance carrier underwrites the risk associated with constructing the project.
  • The carrier also typically provides claims handling and loss control oversight.

WRAP-UP ADMINISTRATOR

  • The administrator handles a multitude of information that must be tracked, collected, and analyzed in a wrap-up program.
  • Other than a safe worksite and minimal claims the wrap-up Administrator is the most significant variable in determining the success or failure of a program.
  • View our services section for more details on what we do.

CLAIMS PROFESSIONALS

The insurance carrier will provide some claims management service as should the insurance broker.

LOSS CONTROL PROFESSIONALS 

  • Scheduled number of visits provided by the carrier.
  • May have some oversight provided by the broker.
  • The general contractor and each contractor will assign site safety duties to at least one individual depending on the number of workers on-site.
  • Outsourcing – a dedicated professional may be placed on the site by the program sponsor to provide daily dedicated safety services.

IS THE PROCESS DIFFICULT?

CR Solutions makes the process quite simple. We offer as many services as our clients need. Our participation simply depends upon our clients’ experience with wrap-ups. Rest assured, we can provide any necessary assistance to a project sponsor and answer any questions along the way.

FEASIBILITY STUDY

  • We will analyze the project budget, expected duration of construction, method for engaging subcontracts, lending requirements, etc. and compare this information to current market conditions in order to approximate the financial feasibility of instituting a wrap-up.
  • We will also review other risk management considerations that may effect the appropriateness of the utilization of a wrap-up.

MARKETING SUBMISSION

  • We can provide templates and/or suggested language to include in a submission to the markets.
  • We will also provide the payroll/trade breakdown with information collected from CR Insight.

QUOTE ANALYSIS

  • After the quotes are received from the proposing carriers they need to be reviewed to determine which program best fits the needs of the client.

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BINDING THE PROGRAM

  • Once the appropriate program is chosen the sponsor gives the broker, who in turn gives the carrier, the order to BIND……and the program is now in place.

WRAP-UP ADMINISTRATION BEGINS

Unique Design

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Page Builder

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Continual Updates

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Video Tutorials

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