Is a Wrap-Up or Traditional Insurance Program Best for Your Next Project?
As a professional in the construction industry, you probably have heard of wrap-ups and have worked on projects that have used a wrap-up program without even knowing. Some more notable wrap-up projects are: Trump Tower in Chicago, Miller Park in Milwaukee and the New Jersey Turnpike.
There are common misconceptions when it comes to wrap-ups that I’d like to address. Some believe that wrap-ups are only beneficial for large millions of dollars projects, complicated in structure and cumbersome in administration, but that is no longer the case. Improvements in technology have made wrap-up programs more accessible and necessary than ever.
If properly administered, wrap-ups can minimize risk for all parties involved including the owner or general contractor. So how do you know if a wrap-up or traditional insurance program is best for your next project? The first step is to speak with a risk management consultant. But to give you a better idea of how to compare the two, we created a visual comparison of a wrap-up program to a traditional insurance program:
Interested in learning more about a wrap-up program? Contact a member of the ‘A’ Team.
- Wrap-Up vs. Traditional Insurance Infographic
- Wrap-Up Flyer
- Wrap-Ups>Traditional Insurance
- Keys to Implementing a Successful Wrap-Up
- 6 Tips to Remember When Enrolling in a Wrap-Up
- Wrap-Ups: Not Just for the Big Guns
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