Wrap-Up Insurance

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Definition of 'Wrap-Up Insurance'

Wrap-up insurance is a type of insurance policy that covers all of the risks associated with a particular project or activity. It is often used by businesses to protect themselves from liability in the event of an accident or injury.

Wrap-up insurance can be purchased for a variety of purposes, including construction projects, product liability, and professional liability. It can also be used to cover specific risks, such as environmental liability or workers' compensation.

The cost of wrap-up insurance varies depending on the type of coverage and the size of the project or activity. However, it is generally considered to be a cost-effective way to protect a business from potential liability.

There are a number of benefits to purchasing wrap-up insurance. First, it can help to protect a business from financial ruin in the event of an accident or injury. Second, it can help to reduce the amount of time and effort that a business needs to spend on managing its insurance needs. Third, it can help to improve a business's reputation by demonstrating its commitment to safety and risk management.

If you are considering purchasing wrap-up insurance, it is important to speak to an insurance broker to get a quote and to understand the different types of coverage that are available.

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