by Shane Henson — December 18, 2013—ACE USA, the U.S.-based retail operations of the ACE Group, released a report earlier this week that aims to assist those involved in construction projects in creating a comprehensive strategy to manage the risks associated with a successful project wrap-up program.
The report, Building a Successful Construction Wrap-Up Program, was authored by George Cesarini, vice president of risk engineering for ACE Construction; Joseph Crowther, vice president and ACE Construction Claims client executive; and Geoffrey Hall, senior vice president, ACE Construction.
According to ACE USA, this report helps to reduce costs related to construction project risks and exposures, including the cost of insurance. It further emphasizes that communication and coordination among all parties involved in a wrap-up program, from the sponsor to the broker and insurer, is a key component to ensuring the same goal—a successful project. In addition, the report explains how a wrap-up sponsor should build a strong safety culture throughout the organization and focus on enhancing safety on every project as well as enforcing the same discipline in all of its contractors.
According to Cesarini, “A safe project requires the participation of everyone from the chief executive to the workers on the site. It’s in everyone’s best interest to enhance safety and reduce accidents and claims, which in turn can reduce overall costs on a wrap-up project. The investment in safety during a project not only helps to save lives, but it also pays off in terms of retaining a skilled workforce, enhancing quality, and avoiding costly delays and negative publicity.”
Additionally, the report discusses claims handling and litigation coordination as another critical area of focus during a construction wrap-up.
