What it is and how to make a filing in Oregon
A wrap-up can be written to provide the Commercial General Liability (CGL) and/or Workers Compensation and Employer's Liability (WC) coverage for a qualifying project as defined in ORS 737.602 (1) (a). The project value must exceed $90 million and meet all of the statutory requirements outlined in ORS 737.602 and ORS 737.604.
Wrap-up contractor controlled insurance project (CCIP) or owner controlled insurance project (OCIP) statutes
Attention:
Assigned personnel will begin processing new wrap up filings as quickly as possible but we cannot commit to specific turnaround times. The filer should be aware that personnel will take the appropriate time necessary to fully review and confirm the filing is compliant and urgent timelines cannot be guaranteed. It is the filer’s responsibility to provide enough time for thorough review and initial processing steps.
Oregon requires a wrap-up filing be made and approved by the director prior to the project start. The wrap-submission will be submitted electronically by email with each of the required elements attached as a separate PDF – no ZIP files. The only exception being the redline Trust Agreement which needs to be a Word document.
Detailed filing instructions
The underwriting insurance company can be different for the CGL policy, and different for the WC policy. The project sponsor will either be an OCIP or CCIP – see definitions in
ORS 737.602 (2) and (3).
New clarifying guidance has been added for the required
Annual Certification Letter; Reporting changes to DFR that affect the project value; The Process to
Request Release of Deposit Funds once the project work has been fully completed for at least 12 months. Please contact us if you have any questions.
Wrap Up Guidance
A mini-wrap commercial general liability policy can be issued for a project valued at less than $90 million as long as it meets the requirements outlined in ORS 737.600 (3) (f) or (h).
Mini-Wrap instructions
A workers' compensation wrap-up policy cannot be written for a project valued at less than $90 million.
Each insurer for the wrap-up project will need to provide a redlined Trust Agreement (there are two templates linked to this site – one for a project whose deposit fund amount is up to $150,000; and, one for a project whose deposit fund amount is greater than $150,000). We will ask for a signed and dated original of the final Trust Agreement after our review is completed. This final document will need to be submitted to us by email.
Trust Agreement template – Deposit more than $150,000
Trust Agreement template – Deposit up to $150,000
The wrap-up deposit required by ORS 737.602 (4) (i) will be placed after conditional approval is granted, and prior to the start of the wrap-up project (instructions regarding the deposit placement will be provided by the DFR insurance institutions section). U.S. Bank is the Oregon custodian for wrap-up deposit funds.