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Yours, Mine, and Ours: Florida Court Holds Wrap Exclusion Applies Equally to Named and Additional Insured

Gregory Podolak (SDV Southeast Managing Partner) has a new article in Insurance Matters, the newsletter of the Florida Bar’s Insurance and Surety Committee:

In today’s construction market, large-scale projects are commonly insured under consolidated insurance (“wrap-up”) programs, where the owner, general contractor, and most subcontractors are covered under the same primary and excess liability policies. This scheme functions as an alternative to traditional risk transfer, which relies on the individual insurance programs of each contractor and concomitant obligations in the trade contracts. However, when a wrap-up program is used, not all parties involved in the construction process are enrolled – generally, only those with onsite exposure are enrolled. As such, some parties still rely on traditional risk transfer, principally via additional insured coverage.

Click here to read the entire article.

Special thanks to SDV associates Afua Akoto and Celia Keniry for their help in contributing to this article.

 

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Dec 07, 2016
Gregory D. Podolak

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