Wrap-Up Insurance

Published: | Updated: November 10, 2017

Definition - What does Wrap-Up Insurance mean?

Wrap-up insurance is a liability policy that covers all liability exposures for a large group that has something in common. For example, wrap-up insurance can cover various businesses working together on a special project for losses due to the work.

Insuranceopedia explains Wrap-Up Insurance

A wrap-up policy consolidates, or "wraps up," insurance coverage for multiple general and subcontractors working on a project into one program that a single sponsor negotiates, purchases, and manages. Two variants exist: owner-controlled (in which the owner is the sponsor) and contractor-controlled (in which the general contractor is the sponsor). The consolidated policy often includes a number of different types of policies, such as general liability insurance, excess liability, worker's compensation, and builder's risk coverage.

A construction wrap-up program can insure either a single project or, in the case of a "rolling wrap-up," several designated projects.


How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.