In order to make a Controlled Insurance Program happen, several parties must come together:
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
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
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
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
- Out Sourcing – a dedicated professional may be placed on the site by the program sponsor to provide daily dedicated safety services
