CONSTRUCTION WRAP-UP INSURANCE CONSULTING SERVICES
Wrap-Up insurance programs are an increasingly popular risk management
technique used by owners and general contractors of large construction projects
to exert greater control over total construction costs while enhancing overall
project safety.
A wrap-up policy
consolidates (or “wraps up”) insurance coverage for multiple general and
subcontractors working on a project into one program negotiated, purchased and
managed by a single sponsor. That sponsor can be either the owner
(owner-controlled insurance program) or the general contractor
(contractor-controlled insurance program).
Relying on the individual policies of the hundreds of contractors that
will be on the site 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.
METROPOLITAN provides
consulting services for Owner or Contractors, helping them navigate the
complicated world of Controlled Insurance Programs (OCIP or CCIP), as the
wrap-ups are formally known.
METROPOLITAN provides on-site safety professionals who evaluate large
construction programs on behalf of carriers, owners or construction managers. METROPOLITAN's intent is to minimize project
losses involving workers, equipment and product.
A CIP is a centralized
insurance program under which one party procures insurance on behalf of all (or
most) parties performing work on a construction project or on a specific site. Also referred to as "wrap-ups," CIPs
are most commonly used on single projects, but other uses include contract
maintenance on a large plant (maintenance wrap-up) or facility or on an ongoing
basis for multiple construction projects (rolling wrap-up). Typically, the coverages provided under a CIP
include builder’s risk (for construction wrap-ups), commercial general
liability (CGL), workers compensation, and excess/umbrella liability. CIPs offer a number of benefits, including
greater control of the scope of coverage, potentially lower project insurance
costs, and reduced litigation. CIPs can
be purchased by the owner (OCIP) or contractor (CCIP) or a combination of
participating parties. They are often
used in government contracts such as highways, bridges, airports, prisons and military
bases, and commercial projects such as hotel-shopping-office complexes,
mixed-use developments and sports and entertainment venues.
METROPOLITAN
offers services specifically tailored for wrap-ups, including:
- Feasibility studies
- Program design
- Insurance marketing
- Program administration
- Training and product orientation
- Risk control
- Claims administration
- Medical cost containment
METROPOLITAN
also offers industry-leading software systems to help oversee large
construction products, including METROWRAPUP, a fully integrated Risk
Management Information System (RMIS) that provides all the storage, retrieval,
and data dissemination resources crucial to the effective administration of
wrap-up insurance programs.
METROWRAPUP
handles all aspects of wrap-up program administration and processing,
including:
- Contractor enrollment and policy issuance
- Loss forecasting and budget modifications
- Cost allocations by contractor or contract
- Contract performance monitoring
- Change order monitoring
- Tracking of actual premiums versus contractor credits
- Contractor certificate and compliance tracking
- Monthly payroll and man-hour reports
- Safety audits
- Goal setting for wrap-up management
- Claims-related employment verifications
- Program-wide status reports and by policy, contractor, and contract
METROPOLITAN Services
include but are not limited to developing cost containing OCIP safety programs,
pre-bid safety specifications, contractor-training programs, coordinating with
emergency care facilities, site security, public access and conducting accident
investigations.
METROPOLITAN OCIP
consultants provide more than just "inspector services". Working
closely with partners on bid deduction status, medical claims, third party
exposures, etc., METROPOLITAN contributes an invaluable service to the entire
controlled insurance plan. We protect
the owner’s or contractor’s bottom line profits from bid errors, experience
modification mistakes, coverage gaps, and audit overpayments. Our nationwide network of consultants and
project portfolio covers a large spectrum of industry types. Some examples of project types are public
programs (school boards, county and city government), entertainment complexes,
power plants and high rise buildings. METROPOLITAN
also has a reputable history in rolling OCIPs involving multiple projects.
Over the years, our
expertise in contractor safety management and OCIP loss control oversight has
been refined into a process driven to manage risk and losses to positively
affect the bottom line for Owners. Our
project loss management services have provided value to projects ranging from a
few million to over one billion dollars in value. We have worked on several large OCIP’s
throughout the Country providing third party safety oversight for both Owners
and Contractors. These partnerships have
provided minimal losses as well as developed a positive safety cultural for the
contractors and craftsperson’s alike.
METROPOLITAN ensures
client interests are served by providing supervision, monitoring and corporate
support to our field consultants. METROPOLITAN
OCIP consultants are proficient in the field and are accustomed to a team
concept. Because we have extensive
experience in loss control and working with insurance carriers, we understand
what a company needs to do to satisfy insurance companies and lower the costs. Project histories prove that excellent
insurance coverage, accurate bid deductions and loss control share equally with
quality and schedule in the success of a controlled insurance project.
Metropolitan Engineering, Consulting & Forensics
(MECF)
Providing
Competent, Expert and Objective Investigative Engineering and Consulting
Services
P.O. Box
520
Tenafly,
NJ 07670-0520
Tel.:
(973) 897-8162
Fax:
(973) 810-0440
E-mail:
metroforensics@gmail.com
Web
pages: https://sites.google.com/site/metropolitanforensics/
https://sites.google.com/site/metropolitanenvironmental/
http://metroforensics.blogspot.com/
We are happy to announce the launch of our twitter account. Please make
sure to follow us at @MetropForensics or @metroforensics1
Metropolitan appreciates your business.
Feel free to recommend our services to your friends and colleagues.
