The Texas Department of Insurance (TDI) has approved a filing by the National Council on Compensation Insurance (NCCI) to establish eligibility requirements for wrap-up construction project policies.
The changes in apply to new and renewal workers’ compensation policies with effective dates on and after Jan. 1, 2017.
The commissioner’s order explains that a wrap-up is “a consolidated insurance program, an owner-controlled insurance program, or a contractor-controlled insurance program,” that “uses individual policies for each contractor or subcontractor working on the project.”
The new rule “allows contractors in a wrap-up construction project to combine their total manual premiums to qualify for a negotiated deductible under Deductible Program Rule D-2-a in the Texas Miscellaneous Rules section of the NCCI Basic Manual,” the order states.
Previously, a contractor could qualify for a negotiated deductible based on an individual total manual premium.
Source: TDI
Topics Texas Construction Contractors
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