What to Look for in a Wrap-Up Administrator for your OCIP

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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 administrator must understand both construction and insurance. Wrap-Up administration is an overwhelming process, and there are specific things you should look for when looking for a partner.

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Topics: Wrap-Up Insurance

Wrap-Up Administration - Partnering for Success

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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. From orientation to close-out, Wrap-Up administrative functions are numerous and time-consuming—but they are also beneficial. Continue reading to learn about the many benefits of Wrap-Up Administration. 

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Topics: Wrap-Up Insurance

Gross Payroll vs. Reportable Payroll

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When working on a construction project and participating in a Wrap Up, you are generally required to submit daily, weekly or monthly payroll reports for work done on the project site. Reporting requirements can vary which can make payroll reporting confusing.

The most important tip to remember is that there is a difference between Gross and Reportable payroll. Continue reading to learn how these two payroll types are different!

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Topics: Wrap-Up Insurance

What is Covered Under an OCIP?

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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 insurance program that is purchased by the owner of a construction project. It is one insurance program for all tiers involved in the project - from the Owner to the General Contractor down to all levels of subcontractors.

Now you may be asking yourself, what exactly is covered under an OCIP? Let’s review some of the basics that are generally covered.

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Topics: Wrap-Up Insurance, OCIP

Why Should You Do a G/L Only Wrap-Up?

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As an owner with a construction project and an eye towards risk management, you might not realize there are different Controlled Insurance Programs (CIPs) or Wrap-Ups to choose from. General Liability (G/L Only), Single Project, Full Wrap, Rolling Program, and Maintenance Program are the main choices. Let’s examine the benefits of a G/L Only Wrap-Up. 

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Topics: Wrap-Up Insurance

What are Insurance Rate Pages and Why do You Need Them?

 

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When you are starting a new Wrap-Up project, you will need to provide copies of your insurance rate pages. But how do you find this information? Here's what you should know about your insurance rate pages and why they are important. 

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Topics: Wrap-Up Insurance

3 Helpful Hints When Enrolling in a Wrap-Up!

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Are you working on a project covered by a Wrap-Up? Do you have to enroll in the program and are not sure where to start? Luckily, we’re here with 3 hints to make enrolling in a Wrap-Up easy!

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Topics: Wrap-Up Insurance

3 Reasons Why Wrap-Up Programs Benefit Trade Contractors!

 

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Construction is on the rise!  Not only is there an increase in new construction jobs; the volume has gone up as well.  Due to the increase, Owners and General Contractors (GC) are opting to implement more Controlled Insurance Programs (CIP or Wrap-Up) than ever before. Rumor has it that Wrap-Up’s only benefit the Owner and the General Contractor, but what about the trade contractors?

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Topics: Wrap-Up Insurance

3 Tips on When to Close your Wrap-Up Contract!

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If you are working on a Wrap-Up, it can be hard to know what to do when you have finished your work. There are a few different questions you may have. Here are 3 tips to help you understand when is the right time to close your wrap-up Contract!

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Topics: Contracts, Wrap-Up Insurance

What You Need to Know About Risk ID

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When enrolling in a Wrap-Up, you may be asked for your company’s Risk ID number (Risk Identification Number). Continue reading to discover 5 points you need to know about your Risk ID.

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Topics: Risk ID, Wrap-Up Insurance