A liability coverage specialty focused on contracting risks, attempting to manage in a single contract the broad interplay of exposures and interests among owners, general contractors, and subcontractors.
Insurance Encyclopedia
Wrap-around plan
Supplemental health benefit plan that pays for medical costs such as copayments and deductibles not covered by a primary benefit plan such as Medicare or TRICARE. Also called Medigap (MG) policy, gap fill, Medifill , and Medicare supplement policy .
Wrap-around services
In the Medicaid program, medical services not usually covered by managed care plans but covered either by referral or direct access to fee-for-service providers.
Wrap-up (Liability Insurance)
A plan that covers all liability risks, which is usually only written for a large amount. For example, a wrap-up policy could be written to cover all of the independent contractors working on a single job.
Wrap-up cover
An owner-controlled insurance programme covering all liability interests in a large construction project. The cover is arranged by the owner (the principal) whose interest is protected as well as those of contractors, sub-contractors, suppliers, architects, etc. The intention is to reduce overall insurance costs. See PRINCIPAL’S COVER.
Wrap-Up-Coverage
Insurance program designed for large construction projects. Under such programs, the owner procures Insurance to cover the owner, engineers, contractors and subcontractors of any tier performing job site operations, Insurance coverage under wrap-ups usually include those for the property, liability and worker’s compensation exposures.