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What to Look for in a Wrap-Up Administrator for your OCIP
Whether you are an Owner, General Contractor or Developer, Wrap-Up Administration is the key to your OCIP. For a Wrap-Up to be successful, the wrap...
Proportional and Non-Proportional Reinsurance Agreement Differences
Reinsurance is when an insurance company transfers risk to other parties by a formal agreement—thereby lessening its liability on catastrophic or...
Wrap-Up Administration - Partnering for Success
There are many factors that go into determining whether a Wrap-Up will be successful or not, and Administration is one of those crucial components....
Understanding General Indemnity Agreement Definitions & Clauses
A General Indemnity Agreement (GIA) is a legal document that outlines the Surety/client relationship. As a contractor, it is important to understand...
Gross Payroll vs. Reportable Payroll
When working on a construction project and participating in a Wrap-Up, you are generally required to submit daily, weekly or monthly payroll reports...
What is Reinsurance?
Risk is everywhere; whether you are a contractor, small business or a large corporation, you must guard against risk. Insurance companies must also...
What is Horizontal Exhaustion?
Insurance can be confusing to understand and often comes with a lot of paperwork. It’s hard to keep track of every project’s requirements that you’re...
How a General Indemnity Agreement Affects Your Construction Company
A General Indemnity Agreement (GIA) is essential in terms of risk transfer, and it is a necessary component of obtaining surety bonds. The GIA is a...
What is Covered Under an OCIP?
Jobsites have a number of risks and it is important to be covered when working on a project. An OCIP, Owner Controlled Insurance Program, is an...