Novatae Risk Group specializes in Wrap-Up programs designed for project-specific General Insurance needs. A Wrap-Up consolidates coverage normally placed separately by owners, general contractors and subcontractors into a single, coordinated policy — reducing coverage gaps, minimizing conflicts between carriers during claim resolution, and supporting consistent safety and loss-control practices. The three core benefits of a Wrap-Up policy are Coverage, Control and Cost Savings.
Wrap-Up programs are offered in two primary forms: Owner-Controlled (OCIP) and Contractor-Controlled (CCIP). Both types allow the project owner or prime contractor to spread risk among participants while providing a single insurance platform and coordinated safety program for everyone working on the project.
*No two Wrap-Up policies are identical. Contact our office with questions about a specific project or to review a submission.
Premiums have softened since the peak of the construction cycle, making now an attractive time for owners and contractors to consider Wrap-Up programs to better manage risk and control project insurance costs.
Appetite:
- Residential tract developments, commercial projects, condos, townhomes, apartments and high-rise construction
Program Highlights:
- Access to markets rated from A-VII to A-XV by AM Best (Non-Admitted AXV carrier)
- Typical Limits: $1M/$2M/$2M and higher available
- Builder/GC required to provide 3+ years of loss runs
- Minimum Premium: Starting at $25,000+
- Minimum Deductibles: Typically start at $10,000 (BI/PD)
- Defense – Inside
- Blanket Additional Insured, Primary status, Waiver of Subrogation
- Subsidence coverage available subject to underwriting approval
- Requires PWC* warranty and formal Wrap administration (PWC warranty placed with a Zurich company)
Underwriting Notes and Placement Guidelines
This program is tailored for larger single-project placements or programs where consolidating multiple contractors under one policy delivers measurable cost and control benefits. Please expect standard Wrap submission requirements: complete project description, list of contractors and subcontractors, payroll and contract values, safety program documentation, and loss runs for the builder/GC (3+ years preferred).
Minimum premiums and deductibles reflect the consolidated exposure profile of wrap-up placements. Limits, retentions and specific coverages (including subsidence or other project-specific endorsements) are set on a project-by-project basis by underwriting.
Territories & Availability
This Wrap-Up program is offered through a non-admitted AXV market and is available in the following states: AL, AK, AZ, CA, CO, CT, FL, GA, IL, KY, LA, MN, MS, MO, NV, NJ, NM, NY, NC, PA, SC, TN, TX, UT, VA, WV, WI. Availability may vary by state and by the specifics of the project; underwriters will confirm admissibility and any state-specific requirements during the submission review.
Why Place Wrap-Up Business with Novatae Risk Group
- Specialized underwriting and program administration experience placing project-based Wrap-Up policies.
- Access to excess & surplus (E&S) capacity where needed for large or complex construction programs.
- Emphasis on coordinated safety and loss control to help lower claims friction and overall project costs.
- Responsive underwriting and experienced wrap administration partners, including PWC warranty placement relationships.
Do you need a Wrap-Up Coverage quote?
Send an email to [email protected] with your coverage needs or call 800-758-8113 to speak to an underwriter immediately.
Frequently Asked Questions
What types of projects are a good fit for this Wrap-Up program?
This program targets medium-to-large construction projects such as residential tract developments, multifamily (townhomes, apartments, high-rises), commercial developments and condominium projects where consolidating contractor coverage delivers administrative and cost efficiencies.
What are the key underwriting minimums and documentation requirements?
Underwriting typically requires 3+ years of loss runs for the builder/GC, a complete subcontractor schedule, estimated payrolls and contract values, a project safety plan, and confirmation of required warranties and wrap administration. Minimum premiums generally begin around $25,000 and deductibles commonly start at $10,000 for BI/PD.
Is this an admitted program?
No. This Wrap-Up offering is placed in the excess & surplus (non-admitted) market through a Non-Admitted AXV carrier. Availability is state-dependent; underwriters will confirm placement options for each project.
What submission items help speed up placement?
Provide a clear project summary (scope, schedule, location), GC and major subcontractor loss runs, estimated payrolls/values, the proposed list of participating contractors, and any existing safety or loss-control reports. Including a proposed wrap administration plan and confirmation of PWC warranty intent helps underwriters finalize terms faster.
Need help placing an account? Connect with a market specialist.