Wrap-Up Insurance

Definition

• An all-encompassing liability insurance policy that covers all employees, including both contractors and sub-contractors, working on a large-scale construction project. Wrap-up insurance can be either owner-controlled or contractor-controlled, and can provide workers compensation, general and excess liability, professional liability, pollution liability, builder's risk, and railroad protective liability.

Synonyms
project liability insurance, construction wrap-up insurance, wrap-up liability

Related Terms and Acronyms

• Employers Liability Insurance (ELI) — Acronym,
  • Insurance purchased to cover businesses for liability from workplace accidents.
• General Contractor — Definition,
  • The person or company that performs work on a construction project, hires subcontractors and suppliers, or both.
• General Liability Insurance — Definition,
  • Insurance that protects individuals and businesses from a number of potential liabilities.