It’s A Wrap — Insuring Construction Projects: Part 2

Law360, New York (March 29, 2013, 10:46 AM EDT) -- Having discussed in part 1 the nature and pros and cons of a wrap-up insurance program for a construction project and contrasted it with the more traditional approach to insuring project risks, part 2 addresses several key coverage issues under a wrap-up program.

Who Is Covered under the Wrap-up Program?

Generally speaking, the greater the number of enrolled participants, the more successful the wrap-up program is likely to be. The owner or developer, the general contractor and most subcontractors will be covered under the wrap-up program. Certain...
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