What does Rolling Wrap Up mean? Read on to discover the definition & meaning of the term Rolling Wrap Up - to help you better understand the language used in insurance policies.
Rolling Wrap Up
An ongoing, or rolling, controlled insurance program (ROCIP). Usually used to refer to a controlled insurance program (CIP; wrap-up) that insures an ongoing construction program covering multiple projects. Projects are rolled into and out of the program as they are started and completed. The date projects are removed from the program can vary but most provide an extended period of completed operations coverage.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Rolling Wrap Up. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: