There are multiple options depending on the project and the client’s goals. Most programs are project-specific and can be structured as a single-line Wrap, such as GL-only or WC-only, or as a two-line/full Wrap that includes both GL and WC.

No. A broker does not need prior Wrap, OCIP, or CCIP experience to partner with TSIB. Many broker partners work with TSIB because they do not have Wrap experience. Our Co-Broker+ program allows the broker partner to maintain the client relationship while TSIB provides specialized expertise. We can be involved as much or as little as the broker partner wants.

Yes. TSIB provides the carrier and underwriting relationships needed to place the program. We also provide support for introductions, submissions, and marketing strategy.

One of the primary benefits is client retention. The broker can offer a Wrap solution without sending the client to another firm. It also creates additional fee opportunities and helps the broker build knowledge in a new line of business.

TSIB provides support with feasibility studies, financial comparisons, sell sheets, marketing materials, and construction risk management expertise. We also offer administrative support through our Wrap Administration service center.

1.     Yes. In most cases, TSIB helps present the program directly to the client as part of a joint team. We explain the structure, potential financial benefits, and risk management value in a way the client can understand.

The broker of record is whoever places the insurance with the carrier. That can be either the broker partner or TSIB, depending on the services TSIB is providing.

Compensation is fee-based, not commission-based. TSIB and the broker partner enter into an agreement that outlines responsibilities, total client fees, and how those fees are split based on services provided.

Responsibilities are decided upfront based on what the broker partner wants to handle in-house and where they want TSIB’s support. Those roles are then documented in the agreement.

TSIB can interface directly with the client if the broker partner wants us to. In most cases, TSIB is introduced as part of a joint team, but we can also remain behind the scenes. The level of client interaction is determined with the broker partner.

The project owner typically controls the communication, but TSIB often works directly with the GC during pre-construction and setup. That includes reviewing exposures, enrollment procedures, and safety coordination to make sure the program is set up correctly from the start.

The broker partner retains ultimate control over the client relationship. TSIB works collaboratively with the broker partner on strategy and provides specialized Wrap expertise and recommendations based on the agreed division of responsibilities.

TSIB operates as part of the broker partner’s team, not as a competitor. We do not engage directly with the client unless approved, and are careful to reinforce that we work with the broker partner, not around them.

No. TSIB supports the broker partner and helps strengthen their client relationship. The goal is to make our broker partner look good and help them retain and grow the account.

In many of our Co-Broker+ partnerships, TSIB’s Wrap Administration service center handles day-to-day enrollment and administration. We work with the GC to help ensure required contractors and subcontractors are properly enrolled in the program before performing work on site.

The insurance carrier has ultimate authority over claim handling and settlement under the policy. TSIB and/or the broker partner can provide claims management services to monitor reserves, advocate for appropriate claim outcomes, and support timely resolution.

Reporting is flexible and can be tailored to the client and stakeholders. Reports may include updates on enrollments, certificates, delinquencies, claims reviews, and related claim status reports.

Wrap Administration is one of TSIB’s most frequently utilized Co-Broker+ services. As subcontractors finish work, the Wrap Administrator closes them out. The overall program closes according to the policy term, although extensions may be necessary based on the construction schedule. Collateral is controlled by the carrier and may remain in place through the applicable statute of repose. Over time, collateral reductions may be negotiated based on the remaining exposure.

No. It usually does the opposite. It allows the broker partner to offer a specialized solution they may not have in-house, which can strengthen their client relationship.

If claims are higher than projected, anticipated savings may be reduced or eliminated. In some cases, the Wrap may end up costing as much as or more than traditional insurance. That is why upfront feasibility analysis, safety culture, and claims management are critical. Even when savings are reduced, the program can still provide risk management value.

The main risk would be if the project underperforms against expected savings and the client is unhappy with the outcome. TSIB helps mitigate that risk through upfront feasibility analysis, clear expectations, ongoing program administration, and claims oversight.