Glossary

What is Wrap-Up Insurance (OCIP/CCIP)?

A consolidated insurance program that covers all contractors and subcontractors working on a single construction project under one policy.

Full Definition

Wrap-up insurance programs — either Owner-Controlled Insurance Programs (OCIPs) or Contractor-Controlled Insurance Programs (CCIPs) — provide consolidated insurance coverage for all parties working on a construction project under a single policy. Instead of each contractor carrying their own GL, workers' comp, and excess coverage, the project owner (OCIP) or general contractor (CCIP) purchases a single program covering everyone. Benefits include consistent limits for all parties, elimination of coverage gaps between contractors, volume premium discounts (typically 15-25% savings), and streamlined claims management. Wrap-ups are common on projects exceeding $50M in hard construction costs.

Related Terms

Aggregate Limit

Blanket Coverage

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Related Coverage & Services

General Liability Insurance

General liability insurance covers third-party bodily injury, property damage, and personal/advertising injury claims.

Workers' Compensation Insurance

Workers' compensation provides medical benefits and wage replacement for employees injured on the job.

Builder's Risk Insurance

Builder's risk insurance covers buildings and structures under construction against physical damage during the construction period.

Aggregate Limit

The maximum total amount an insurance policy will pay for all covered claims during the policy period.

Blanket Coverage

A single limit of coverage that applies across multiple items, locations, or categories rather than scheduling each one individually.

Business Insurance

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Strategy

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