Monday, July 24, 2006
A Wrap-Up Insurance program is all about covering the contractors and their subordinates associated with a huge construction project. This policy could be easily procured with the help of an insurance broker and accounts for workers compensation, general liability, and also the immense risks associated with the construction processes. The names of all the contractors and their subordinates usually get enlisted as 'insureds' within such a policy. In order to cater to the long awaiting question of construction defect/general liability claims, the GL-only wrap-ups are now coming up in states with workers' compensation troubles.Planning has therefore become an absolute necessity to see through the success of any wrap-up insurance program. Thus an unforeseen challenge is emerging out of a key success derivative in the form of skillsets aimed at program design, implementation and administration procedures.
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