Tracy Alan Saxe presented “Extra Dimensions for Construction Insurance—Are They Tightly Wrapped?” at DRI’s Insurance Coverage and Practice Symposium in New York, NY. His focus was on wrap-up policies. Contractors and owners are increasingly employing wrap-up policies to insure construction projects. These policies can reduce litigation and create more uniform coverage, as well as avoid some of the pitfalls inherent in contractual indemnity and additional insured arrangements. However, new coverage issues arise with wrap-ups. The presentation provided an overview of wrap-up coverage and used real life examples to illustrate claims and coverage scenarios and outlined potential coverage gaps. |