Western Pacific Insurance Network, Inc.

• Multiple insurance carrier options
• All multi-family construction projects
• Facilities for Wrap as low as $1million in gross receipts and as high as $1billion in gross receipts
• Condo/Townhouse/Conversion projects are available
• 12-48 month construction terms
• Completed operations for full statute or 10 years
• Low minimum premiums
• Low and high SIR/Deductible programs available
• Fully integrated risk mitigation services - multiple vendors

1. Assured coverage for all subcontractors
2. No gaps in subcontractor insurance coverage granted on individual policies
3. One defense representative in the event of a loss
4. No fault allegations to be determined in the event of a loss - "one for all and all for one: claim investigation and settlement
5. Less costly defense expense in the event of a loss
6. Common goal of all subcontractors on site: safety and quality of work.  Cooperation between trades is higher than might be otherwise.
7. TPA services ease subcontract execution
8. Assured coverage for all subcontractors on the project - no coverage lapses or insufficient limits
9. Bid credit costs recovery from enrolled subcontractors to offset the wrap expenses
10. Completed Operations extended for statute of repose, not to exceed 10 years
    

1. Previous bad experiences by subcontractors can result in resistance to working under a wrap program
2. Difficulty lies within apportioning the subcontractor's premium contribution
3. Determining subcontractor's fair participation in any deductible or SIR of the wrap, which is going to be higher than what an individual subcontractor might have on their own off-site policy coverage
4. Administrative expenses not contemplated in bid letting or contract award
5. One limit of coverage shared by all entities of the wrap
6. Defense costs are inside the limit of liability, potentially forcing higher coverage limits, therefore increasing the costs of construction
7. Fear of the inability to recover expenses in the home's sales price