Rates and forms

Detailed filing instructions

We trust this information will clarify how we handle wrap-ups here in Oregon. A wrap (Owner Controlled Insurance Project or OCIP; Contractor Controlled Insurance Project or CCIP) must be filed and approved. There is no specific application form to be completed. The filing must be done in two parts: (#1) a paper binder of all required materials must be mailed or delivered to the Department of Consumer and Business Services, Division of Financial Regulation, Product Regulation Section, Rates & Forms Unit, 350 Winter Street NE, Salem, OR 97301; (#2) the filing must also be sent via email with each filing element attached as a separate Word or PDF document – NO ZIP FILES.

The filing must include the draft red-lined Trust Agreement document, and all other supporting documentation as noted below. The more complete the filing is, the more quickly we will be able to perform our review. Final approval could take as little as 30 days or as long several months, depending upon the nature of any questions we have, how quickly we receive the company’s responses, and whether or not the Oregon AG has to review the red-lined Trust Agreement for legal sufficiency.

Following are the guidelines regarding the information to be included in a wrap-up filing that is subject to ORS 737.602. There may be follow-up questions or requests for additional information upon review of the specific filing documents received.

The subject line for any wrap-up email must be the official name of the "project".

  • A cover letter or application letter providing:
    • The official project name;
    • The Project value;
    • Physical address of the project (plus attachments for the following);
      • Map of where the project is located (township, range, etc.),
      • Drawing of the project showing location for all components of the project (e.g. office building, parking garage, manufacturing plant, etc.);
    • Name of the general contractor;
    • An explanation as to whether the wrap-up is owner controlled (OCIP) or contractor controlled (CCIP);
    • An overview of the purpose of the filing;
    • A description of the project (e.g. building(s), size, occupancy, use, etc.);
    • The coverage being provided (commercial general liability, workers’ compensation, or both) and the applicable policy limits; and
    • Demonstration of compliance with the requirements under ORS 737.602(4). [See statutes].
  • Confirmation, either in the cover letter or in the e-mail transmittal, as to whether the Oregon Workers’ Compensation Division has been advised about the intent to do a wrap-up for the workers compensation coverage.
  • Details regarding the pricing of the program; including when applicable, the negotiated factors underlying a LRARO workers comp program.
  • The project's safety manual can be provided via e-mail – any single PDF cannot exceed 3 MB in size.
  • The project's claims manual can be provided via e-mail – any single PDF cannot exceed 3 MB in size.
  • A list of Oregon policy forms to be used for the project. The forms list should identify whether the form is an Oregon approved bureau form (ISO, NCCI, other), an approved independent insurer form, or a manuscript form not required to be filed for prior approval under ORS 742.003 (1) (a). A copy of any manuscript form must be included in the wrap-up filing materials. DFR staff must be able to confirm forms have been filed, reviewed, and approved pursuant to ORS 742.003
  • The red-lined Trust Agreement in Word format, with the applicable information for each variable field shown in track changes mode , must be provided for the “project”. If the CGL and WC will be provided by two different insurers not in the same group of companies, then each insurer will make their own wrap-up filing with their own red-lined TA. The project start date, insurance effective date, project value, and deposit fund amount must be included in the document.
  • We have provided two different templates: one for a project whose deposit amount is up to $150,000 maximum; the other for a project whose deposit amount is greater than $150,000. When the deposit is more than $150,000 we will submit the TA to the Oregon AG for review and approval. Per ORS 737.602 (4) (i) the deposit is calculated by dividing the project value by 100 million and taking that figure times 25,000. [For example: project valued at $750 million divided by 100 million = 7.5 X $25,000 = $187,500 deposit]. [Please round the deposit amount up to the nearest whole number. For example, instead of $35,576 use $36,000].
  • Exhibit A should include a detailed description of the project itself, including the project location, type of construction, anticipated occupancy/use, project value, and anticipated project duration.
  • Exhibit B must show the official project name. This is the same name that will be used for all electronic and written communication regarding the wrap-up.

Shortly after receipt and initial review of the wrap-up filing, we may issue a Conditional Approval based upon any remaining questions or concerns requiring clarification. This will allow the project to commence. Final approval will be provided once all concerns have been successfully addressed.

The required wrap up funds will need to be deposited by each insurer prior to the project breaking ground. [$25,000 per $100 million of project value, rounded up] When the insurer is ready to deposit the funds, our Insurance Institutions staff will provide instructions for placing the appropriate securities with the Custodian.

Once the wrap-up filing documents have been reviewed and any follow-up questions or revisions are addressed, the Trust Agreement may need to be reviewed for legal sufficiency by the Oregon Attorney General's office. Any project with a deposit amount in excess of $150,000 requires AG review before we can finalize the Trust Agreement.

Once we have completed our review, the Trust Agreement will then need to be created in final printed format; and, three original hard copies signed by an authorized representative of the company will need to be mailed to DCBS/Division of Financial Regulation/Product Regulation Section, along with a postage paid return envelope large enough to accommodate return of two attested originals.

The final step in the wrap-up process is for the Director of DCBS or the Insurance Commissioner to sign the three original Trust Agreement documents. We will return two attested original trust agreements to the insurer (or the representative who made the wrap-up filing on their behalf) – one for the insurer to keep, and one the insurer will send to the Custodian.

Please do not hesitate to contact Jan Vitus at 503-947-7278 if you require further assistance.​

List of Active Wrap-Up Projects (updated periodically)

For wrap-up questions or filing assistance:

Jan Vitus, Analyst
(503) 947 7278