Controlled Insurance Programs (“CIPs,” “wrap-ups” or simply “wraps”) are promoted as particularly well-suited for large construction projects, offering a single insurance program that covers all eligible participants. Theoretically, a wrap eliminates multiple carriers and duplicated coverages. However, depending on the entity sponsoring the wrap, the owner in an owner-controlled insurance...
Businessman using tape measure with risk wording for risk analysis investigate management and assessment concept.
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