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So, you’ve decided on a Wrap-Up for your next project. You know your broker can secure the policies needed for a Wrap-Up. But that’s just part of the Wrap-Up picture. Are you sure your broker can properly manage the Wrap Administration duties?
Often Owners, General Contractors (GC), and Trade Contractors think Wrap Administration occurs only during actual on-site construction. That’s just not true.
For a Wrap-Up to be successful administratively, it requires a seamless and supportive approach all the way through from pre-construction, construction, closeout, and post-construction. As such, make sure your broker can provide a dedicated Wrap Administration Service Team ready to help throughout the entire construction project.
What duties should the Wrap Administration Service Team be prepared to do?
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DUTY |
PROJECT LIFECYCLE STAGE |
|
Wrap-Up Manual Development |
Pre-Construction |
|
Orientations For Contractors |
Construction |
|
Day-To-Day Wrap Administration |
Construction |
|
Contractor Enrollment |
Construction |
|
Contractor Insurance Credit Evaluations |
Construction |
|
Obtain & Review Insurance Certificates |
Construction |
|
Collect & Monitor Contractor Payroll |
Construction |
|
Wrap-Up Program Close-Out |
Closeout |
|
Final Review & Audits |
Post Construction |
Wrap Administration is so important to the overall success of your project, but not every broker is prepared to tackle a Wrap-Up’s administrative duties. Have this important conversation with your broker.
Interested in learning more Wrap Administration and how important is to your Wrap-Up program? Reach out to TSIB today and schedule a free consultation with one of our Wrap-Up Specialists!
TSIB’s Risk Consultants are currently servicing the following locations:
East Coast: New York City, NY; Bergen County, NJ; Fairfield County, CT; Philadelphia, PA
Texas: Austin, San Antonio, Houston, Dallas
California: Orange County, Los Angeles County, Riverside County, San Bernardino County, San Diego County
