MEC&F Expert Engineers : CONSTRUCTION WRAP-UP INSURANCE CONSULTING SERVICES

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.