Wrap-up projects are construction projects with an aggregate value in excess
of $90 million. With the approval of the director of the Department of Consumer
and Business Services, an insurer may issue a policy of insurance covering
the project sponsor, the general contractors, and any other contractor or
subcontractor working on the project rather than having each contracting
entity provide its own insurance. This insurance is provided by and paid
for by the owner or general contractor.
Contractors/subcontractors may wish to endorse their own insurance policies
to exclude any work on the wrap-up project.