Wrap-Up Insurance for Contractors and Projects Owners
Astrus offers comprehensive wrap-up insurance (Owner and Contractor-Controlled Insurance Programs) to help businesses consolidate project coverage for their general liability and workers’ compensation exposures under one program, improving risk management outcomes for everyone involved.
End-to-End Project Protection with Wrap-Ups
As the risk landscape grows in complexity, construction businesses need an insurance strategy that enhances coverage terms and defends against surging premiums. Astrus provides personalized wrap-up insurance for contractors and project owners that unifies policies, closes coverage gaps and minimizes costs, ensuring your next project is protected from start to finish.
Dedicated Wrap-Up Insurance Specialists
As the premier construction-focused managing general underwriter, Astrus brings decades of experience across underwriting, claims, loss control and actuarial services. Our specialists design wrap-ups that address the unique exposures of complex, large-scale projects across the nation.
Enhanced Control Over Safety Outcomes
In today’s volatile construction risk landscape, businesses must navigate an expanding set of risks that can significantly impact project timelines and budgets. With Owner-Controlled Insurance Programs (OCIPs) and Contractor-Controlled Insurance Programs (CCIPs), project owners and contractors gain greater control over their safety and risk management programs. Astrus integrates dedicated risk engineering services into wrap-ups to control losses and mitigate costs.
Streamlined Wrap Insurance Claims Management
If a loss occurs, a wrap-up insurance program streamlines the claims process with only one insurance carrier and fewer insurance adjusters and lawyers involved. Regardless of claim scope or complexity, our team of claims advocates will support your business throughout the entire recovery process, working closely with your business, the carrier’s claims team and the insurance broker to achieve an equitable solution that benefits all parties involved.
Wrap-Up Insurance Solutions
Astrus provides construction businesses with the following wrap insurance solutions to protect their projects from initial build to final delivery:
- OCIP – Single Site and Rolling
- CCIP – Single Site and Rolling
- Joint Ventures – Single Site and Rolling
Our coverage offerings include:
- Large Deductible
- Guarantee Cost
- General Liability – up to $2M//$4M/$4M
- Workers’ Compensation – Statutory Limits
For large-scale construction projects, our OCIPs and CCIPs offer significant advantages over traditional construction insurance, including enhanced site safety and end-to-end coverage. Our offering includes a two-line (General Liability/Workers’ Compensation) program or Workers’ Compensation only program.
For contractors that want a centralized approach to risk management for their next construction project or portfolio of projects, a Contractor-Controlled Insurance Program (CCIP) is a cost-effective choice. A CCIP covers the contractor, owner and all subcontractors under a single policy. A CCIP bundles the following insurance policies under one overarching insurance program:
- General Liability
- Workers’ Compensation
Key benefits of a CCIP include:
- Centralized Management for Contractors: CCIPs prioritize the contractor's needs and place them in charge of the project’s insurance. Contractors gain greater control over risk management and safety measures.
- Protects Profitability: When structured effectively, CCIPs can reduce overall project costs and are often built into the overall contract value. With a rolling CCIP, the general contractor can cover multiple projects and their subcontractors under a single, continuous policy.
- Accelerated Claims: Instead of multiple subcontractors maintaining separate insurance policies, a CCIP has a single insurance carrier and overarching program that covers everyone. This simplifies the claims management process so businesses can mitigate any disruptions and achieve a fair resolution quickly.
Our team of specialists can help you identify if a CCIP is the right fit for your next construction project(s). As your strategic partner, we can help structure the insurance program effectively to maximize site safety, strengthen coverage and provide greater control over costs.
Owner-Controlled Insurance Programs (OCIPs) provide an overarching plan to protect against liabilities stemming from a construction project, putting the owner in control. This program also extends coverage to contractors and subcontractors, pending their approvement for participation by the owner. An OCIP covers the following:
- General Liability
- Excess Liability
- Workers’ Compensation
OCIPs offer project owners the following key benefits:
- Oversight for Owners: Project owners sponsor the plan, giving them greater control over insurance terms and providing direct access to the insurance carrier.
- Personalized Coverage: Coverage is tailored to the unique needs of the project, and a rolling plan allows for dedicated or shared limits across multiple projects.
- Cost-Reducing: OCIPs are typically priced with a flat fee from the owner's insurance broker. By putting multiple policies under one program, owners will face lower insurance premiums.
Our team of insurance specialists can determine if an OCIP is the right fit for your next project. We provide uniform coverage tailored to your unique needs, enhancing your resilience and driving meaningful risk management outcomes.
Thanks for your message.
We’ll be in touch shortly.
Project Success Starts With Unified Insurance
Defend your next project against rising insurance rates and emerging risks with wrap-up insurance.
Astrus develops personalized OCIPs/CCIPs for businesses to close coverage gaps and maximize profitability. Gain greater control over construction risks today by exploring our dedicated wrap-up solutions for project owners and contractors.
Contact Us