All Wrap-Ups are not created equal.

A Wrap-Up program is a comprehensive approach to managing large scale construction risk where the “sponsor” – typically the project’s owner or contractor – directly purchases a risk management program, including insurance coverage, administration, safety management, claims management, and information management services on behalf of themselves and their contractors.

Created essentially to mitigate any potential coverage gaps in the policies held by individual contractors working on a project, a Wrap-Up is a comprehensive risk management solution designed to give you:

	Broader and more consistent coverage wording
	Focused and more cost effective claims resolution
	Better catastrophic protection
	Reduced contractual litigation
	Enhanced safety practices and culture
	Potential savings based on loss experience

However, all Wrap-Ups are not created equal. This risk management approach has evolved significantly since first utilized by the construction industry more than 50 years ago. Wrap-Ups have grown exponentially within the last decade, and as such, the industry is experiencing changes at a rapid pace. PTI is an industry leader in keeping up with recent changes, many of which are driven by our professionals. Today’s successful Wrap-Ups:

	Go beyond “traditional" risk transfers to leverage alternate financing solutions, such as captive insurance markets;
	Are project-specific. Once a tool used almost exclusively by owners, and most recently contractors, Wrap-Ups are becoming the preferred risk management strategy for insuring projects. Educated owners and contractors understand and agree that projects need to be covered under the Wrap-Up concept, regardless of who “Sponsors,” the program. An emerging trend is that both the owner and contractor are “Co-Sponsoring,” programs under a shared concept of “Owner- Contractor,” controlled insurance programs.
	Feature comprehensive services. With more companies than ever claiming to provide Wrap-Up services, more risk factors to consider and more selective market conditions, choosing an experienced broker and administrator is critical.
	Leverage the latest in technology. Having state-of-the-art technology just isn’t enough; what counts is using it to proactively control losses, manage costs and close out projects utilizing a timely, cost effective approach.

At PTI, we not only understand how the Wrap-Up industry has changed, we’re leading the way to these changes with innovative, comprehensive solutions designed to help our project teams make the most of them. Contact us to find out how.