Just over 10 years ago, Wrap-Up Administration was managed by using paper forms submitted via fax and enrollments tracked via simple excel spreadsheets. Administrators were manually creating weekly reports, and companies were hiring entry-level personnel or third-party administrators for routine data entry. This left a great margin for error. The Wrap-Up Insurance Administration industry isRead more
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A wrap-up is the consolidation of workers’ compensation, excess/umbrella and general liability insurance coverage for all or most of the entities working on a project. Construction companies submitting bids for the jobs are asked to deduct these insurance costs from their bids. The wrap-up administrator then purchases coverage for the job. Once engaged in theRead more
I recently came across a blog post on the website for Cobb Strecker Dunphy and Zimmerman, a commercial insurance and surety company that services the construction industry, among others. The post was titled When Bigger is Just Bigger, and one section in particular struck a chord. Author Jerry Oimet writes, “The biggest drivers of longRead more
As an advisor to the construction industry providing OCIP software and CCIP software, I always enjoy speaking to risk management executives at owner organizations and contractor sponsors. After all, our software is ultimately designed to provide better service to these firms. It’s great to hear directly from the source what they are looking for inRead more
As the 30th IRMI Construction Risk Conference came to a close yesterday, we were struck by some key takeaways. As a provider of wrap-up administration technology, we were drawn to sessions about OCIPs and CCIPs, presented by key specialists such as Kathleen Creedon of Wrap Strategies and Richard Resnick of Aon. These experts discussed theRead more
