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NewsBuilders Wrap Administrators to Offer Single-Site Solution for Owner Controlled Insurance Programs
More Projects Can Use Cost-Cutting MethodLos Angeles, Sept. 1, 2006 Builders Wrap Administrators, a Los Angeles-area insurance products management firm, has announced the availability of an innovative approach to Owner Controlled Insurance Programs (OCIPs) that will make these cost-cutting programs available to a much wider range of developers. With construction costs increasing exponentially in recent years, many large developers have turned to OCIP or "wrap" programs to reduce their insurance costs. These plans bundle all insurance coverages for contractors and subcontractors on a construction site into one policy, reducing administrative costs and simplifying claims management. Until now, however, complicated administrative details and prohibitive management fees have put this option out of reach of all but the largest project managers. Builders Wrap Administrators has developed a proprietary service that will allow many more developers to access the advantages of the OCIP approach. "Builders Wrap Administrators provides developers, general contractors, lenders, and underwriters with a proven solution to the administrative challenges posed by the OCIP approach to construction insurance," says Joel Blankers, BWA Director of Business Development. "What's more, our Web-based administrative concept gives developers access to all project information on a 24/7 basis, increasing control while reducing risk." Included in BWA's a la carte menu of OCIP services are certificate tracking for all participating contractors, site safety reporting, claims tracking, OCIP administration, project documentation and construction review. To learn more about OCIP and potential cost savings, contact BWA at (310) 760-0515.
About Builders Wrap Administrators:Builders Wrap Administrators is a team of experienced construction insurance experts dedicated to providing you with exceptional service for administering your Owner Controlled Insurance Policies, also known as OCIPs or wrap policies. With 24/7 access to all project information, project managers are in the driver's seat.
Based in Los Angeles, Calif., with offices in Florida and Nevada, BWA works with chosen third-party service providers to put all information online and available at the click of a mouse. With easy-to-understand administration, comprehensive training and ongoing support, BWA is there to help your company implement and manage effective OCIP solutions.
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