Wrap Ups (OCIP & CCIPS)

Working with Owners and Contractors, or acting as a 3rd party consultant to retail brokers, New World Construction Solutions can provide flexibility in our service offerings for either Owner or Contractor Controlled Insurance Programs (OCIP’s or CCIP’s). We support our clients through the procurement, solicitation, carrier selection, implementation and closeout processes.

 

Strategic Pre-planning and Analysis: 

We will provide expertise during the planning, feasibility and program design phase. With the program sponsor and its broker, NWCS can complete an insurance risk management analysis to determine the financial, programmatic and practical feasibility implementing a wrap up. Project size, location, type of construction, sponsor’s appetite for risk and local statutory constraints are all reviewed when considering the application of wrap up as a viable risk management solution for a project.

 

Insurance Marketing and Carrier Selection:
NWCS will work with the insurance marketplace to complete underwriting submissions customized around the individual program needs. With our extensive background in insuring construction risk, we can deliver a very comprehensive submission document that will satisfy all carrier requirements for information. When the quotes come in, we will analyze and compare coverage terms and program financials, to position the program sponsor to make the best choice possible for the project.

 

We can also assist retail brokers who have clients that could benefit from a controlled insurance program but do not have the market contacts or expertise to manage the program on their clients behalf.
Additionally our affiliate, New World Casualty & Consulting, is a wholesale / E&S broker with the ability to access specialty markets for Excess Liability, Railroad Protective, Environmental Liability, and Professional Liability.

 

NWCS has a proven track record in the construction industry, able to secure the broadest coverages in the most cost effective manner.

Roll Out of the Wrap Up:
New World Construction Solutions will spearhead the rollout of the wrap up, providing, in many cases, simultaneous coordination of several aspects of the program:

  • Review of sample Insurance contract language as provided by the program sponsor, to be used by Program Sponsor and Construction Manager as well as by Construction Manager and its subcontractors.
  • If needed, NWCS can also
  • Provide sample contract language for consideration.
  • Prepare a wrap up Insurance Manual, describing the program coverage terms and procedures for participation in the program.
  • Conduct wrap up orientation and training sessions for the Project Management
  • Team and all subcontractors.
  • Distribute the wrap up procedures manual to all participating contractors and subcontractors;
  • Enroll eligible contractors and subcontractors;

 

Ongoing Management of the Wrap Up:
There are several activities that are included in the ongoing management and administration of a wrap up.

  • Resolve issues and respond to requests from project contractors and
  • subcontractors;
  • Process and distribute wrap up certificates of insurance for enrolled contractors and subcontractors;
  • Review insurance certificates for enrolled contractors and subcontractors for
  • offsite and non-wrap up required coverages;
  • Review insurance certificates for non-eligible contractors and subcontractors for
  • onsite and offsite required coverages;
  • Collect monthly payroll reports from all enrolled contractors and subcontractors,
  • and submit them to the appropriate insurance carrier;
  • Meet regularly, as required, with the Program Sponsor, Owner, Construction
  • Manager, Enrolled Subcontractors and Broker to review the program’s status as defined in several reports: enrollment status, payroll status, claims, loss control/safety, deduct credits, change orders and closeouts. NWCS will provide annual Stewardship reports to the Client and Program Sponsor which includes operational, functional and financial status of the wrap up.

 

Safety & Loss Control: 

  • A carefully developed and well managed safety program is inherent to the financial success of any wrap up. Through its diverse contacts in the industry, NWCS has a host of Safety and Loss Control Specialists that can provide a wide variety of services to supplement the Owner’s and Contractor’s current safety staff.
  • Typically, NWCS will work with the program’s sponsor to provide safety services in an oversight capacity only. Through our third party vendors, we can evaluate and make recommendations to the construction manager and owner on safety standards to include in its safety program. If requested, we can provide one loss control inspection
  • each month, as a supplement to the carrier’s surveys, throughout the life of the project, with regular status reports and recommendations to the participating members. Safety services can be quoted separately, as needed, including OSHA training, environmental surveys, industrial hygiene surveys and training, implementation of a return to work program, technical applications and regulatory interpretation.

 

Project / Program Closeout: 

  • NWCS supports the program sponsor from inception to completion of the project and closeout of the program. We are committed partners with the project management team and will:
  • Work with each enrolled contractor and subcontractor to close out its financial obligations (reconciliation of deducts) under the wrap up prior to contract close out;
  • Work with the Construction Manager to close out the final financial obligations (reconciliation of all deducts) of the wrap up prior to final Project closeout;
  • Participate in carrier payroll audits, as may be required.
  • Provide a final financial stewardship report to the program sponsor and all other invested parties.

 

 

Click below to download a PDF of this information.

Wrap Up Services (OCIPs & CCIPs)

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