Construction > Wrap-Up Liability


Wrap-Up Liability 


Single project general liability insurance is a critical component of any construction project. ENCON’s Wrap-Up liability insurance protects the team involved in a project, such as owners, developers, engineers, architects, project managers and contractors, against third party and general liability exposures associated with their project — all with one policy for the project. There are numerous advantages to using Wrap-Up liability coverage on major construction projects, rather than relying on each contractor’s Commercial General Liability policy.

Eligibility

The following provides an example of those eligible for this coverage:

  • Owners and developers
  • General contractors
  • Project managers
  • Architects
  • Engineers

Coverage is available for the following types of projects:

  • Most building project types of fire resistive, non-combustible or masonry construction, provided the project value exceeds $5,000,000
  • Civil works projects, regardless of project value, involving construction of bridges, dams, sewers and watermains, etc.


Coverage Details

  • Policy Form – The insurance is written on an occurrence basis
  • Policy Period – Usually for the full duration of the project. A specific period of Products and Completed Operations coverage applies thereafter, usually for a maximum of 24 months
  • Capacity – Limits up to $25,000,000 for projects in Canada valued up to $250,000,000; With respect to Products and Completed Operations, the limit of insurance is dedicated to the project and applies on the basis of an annual aggregate limit
  • Minimum premium – $5,000 for a $1,000,000 limit
  • Territory – Projects in Canada only

Policy Features

  • Broad and uniform scope of coverage can be tailored to the particular project, insuring all project participants
  • The policy insures third party exposures for all participants. By virtue of a Cross Liability Clause, it also insures liability for damages to each other for which the various insureds may be liable
  • Competitive single price for the product, resulting in a reduction in the owner’s cost of administration
  • The participants purchase one policy for the project which results in a reduction or elimination of insurance disputes between the parties
  • Added coverage applicable to performance of remedial work for a period of 365 days following expiry

Submission Requirements