Insurance Division Loosens Construction Wrap-up Rules

Colorado's Division of Insurance announced that the total estimated cost of a construction project or series of projects must be at least $50 million for a contractor to be eligible to purchase a workers' compensation "wrap-up" policy covering all subcontractors on the project. The $50 million minimum will go into effect Oct. 1, 2015, the division announced in a bulletin published July 23. Lawmakers this year passed Senate Bill 194 reducing the eligibility threshold for wrap-up policies from $150 million. The bill also allowed the costs for a series of projects to be combin...