The IOA Wrap

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Our Culture

IOA’s distinct culture fosters an environment whereby lead consultants partner together, further enabling IOA to commit the absolute best practice group and resources to a Wrap or CIP Client. Under the direction of the Chairman John Ritenour, Gary Smith and Chuck Carroll partner for the benefit of a total “All-In” allocation of above and beyond resources.

IOA’s Wrap consultants hold the industry’s highest designations and degrees. They have extensive experience in Construction Risk Management and WRAP programs both OCIP’s and CCIP’s. They bring a wide range of resources to clients of IOA in the areas of Risk Management Consulting, Administration Services, Underwriting, Expert Witness, Litigation Support, Contract Administration, Coverage Design and Placement.

Wraps & CIPS

A Controlled Insurance Program (CIP) or “Wrap-up” is a centralized and controlled insurance, loss control and claims management program whereby all insurance and related services for the project are purchased and managed by the Owner or Contractor. The program can cover the Owner, Contractor or Project Managers and all participating contractors and subcontractors. In addition, the Owner maintains flexibility to include and exclude which contracts, as well as individual contractors or subcontractors, from the program coverage.

Owners/Contractors of these projects are developing innovative ways to decrease the cost of construction while maximizing insurance protection and making the project safer. Owner Controlled Insurance Programs are one effective answer to help achieve these goals.

The cost and complexity of large construction projects require a more sophisticated approach to controlling insurance costs and ensuring proper insurance coverages.

Direct Wrap Experience and Placements

IOA’s Wrap Division Consultants have provided both broker services and Wrap consulting and administration as well as OCIP audit services for over 150 wrap sponsors and for such participants as:

  • Bear Stadium (Chicago)
  • Bobby Dodd Stadium (Georgia Tech)
  • Walt Disney World
  • MGM Studios
  • Canaveral Port Authority
  • John Gorrie Investment Group
  • Dallas Airport Expansion
  • Miami Federal Courthouse
  • Africa/Israel Development
  • MDM Development
  • Metropolitan Insurance
  • Packet Group
  • The Big Dig
  • The Venetian Hotel (Las Vegas)
  • OSF Healthcare
  • Aventura Isles (Miami -Falcone Development)

Audit Services

IOA’s Wrap consultants are leading industry known practitioners and have been engaged by entities such as the US Department of Transportation to perform full program audits, which included: coverage, enrollment, financial benchmarking and claims. They have identified over $100,000,000 in misallocated funds, in addition to IOA’s audit practice group performing audits on other National Brokers’ wrap programs. Examples are bid credit close out audits resulting in over $3,400,000 in increased credit savings for the owner and a bid credit correction on behalf of the owner in excess of $6,200,000 which led to IOA replacing the existing administrator.

The above examples are given in an effort to establish the high level of expertise provided by IOA’s Audit Practice Group.  IOA audit services consist of internal audits of the program. We also perform carrier reviews to ensure accurate premium calculations and allocation. IOA can also perform reviews of the carriers handling and administration of the claims.

Administration Services

The effective administration of a wrap-up is the key element of the successful implementation and completion of a wrap-up. IOA’s very robust web based administration platform “Credit Finder” is the latest in leading technology utilized to provide interactive wrap-up applications.

IOA Administration Provides:

  • Administration Manual
  • Critical early involvement
  • Pre-Bid/Pre-con participation and consulting
  • Bid Credit negotiations and counseling
  • Contract and Document administration
  • Information Tracking
  • Robust Reporting
  • Broker and Consulting Services:
  • Scenario Based Risk Assessment
  • Safety and Loss Prevention
  • Financial Analysis of Retentions
  • Loss Development and Trending
  • Internet Plat-formed Risk Profile
  • Wrap Feasibility Studies
  • Alternative Risk and Loss Sensitive Programs Consulting and Evaluation
  • Claims and Cause of Loss Analysis
  • Insurance architecture, Program Development & Evaluation
  • Marketing, Policy, and Coverage Analysis
  • Bid Specification Development and Evaluation
  • Excess & Surplus Lines Brokering and Evaluation
  • Litigation Support Services:
  • Trial Testimony
  • Deposition Support
  • Confidential Consulting and Litigation Support
  • Insurance Archaeology
  • Standard of Care Analysis
  • Contract Administration
  • Claims Review & Analysis
  • Agency Procedures
  • Market Analysis

Lead Consultants

Gary L. Smith –CPCU,AAI

gary.smith@ioausa.com

Gary holds a Risk Management degree from Florida State University and has over 35 years of Risk Management experience.  Gary has extensive knowledge of Risk Management and is a qualified expert witness in both State and Federal court. Gary has presented to the Florida Bar on construction contract issues and was a presenter in 2012 on Wraps. He has also been requested to address legislative committees regarding insurance legislation pending in Florida.

Gary is Vice President of Insurance Office of America, Inc- National Accounts Division.  He directs the overall risk management resources for Insurance Office of America national account clients. Prior to this position, he managed the Risk Management division of a large multi-national broker. Gary was the President and Chief Operating Officer of Corporate Risk & Litigation Management where he developed programs for Multi National accounts for over twenty years.

Charles (Chuck) F. Carroll, Jr., ARM, CSP

chuck.carroll@ioausa.com

Chuck has a Masters in Engineering Technology with Safety Certification and a BS in Finance.  Chuck has been working in construction insurance for the past 28 years. Chuck is one of the lead Wrap consultants in IOA’s construction practice group and has been with IOA for over six years.

Starting his insurance career as Risk Manager and Safety Director of Walsh Construction Group, Chuck left Walsh to work at Fred S. James (Sedgwick James) on the Walt Disney World wrap-up, a $2.5 Billion program (24 projects).  Chuck served as the Director of Construction Safety.

Upon completion of the Disney Wrap-up, he ran the Palm Beach County wrap-up ($350 Million on 4 projects) for Sedgwick James.  Chuck left Sedgwick to work for Aon Risk Services, where he ran the Universal Studio wrap-up ($3.2 Billion, 1,500 General Contractors and 22,000 subcontractors). Upon completion of the Universal program, he was promoted to Aon’s Southeast Regional Vice President, Construction Group.  He was responsible for the sales, administration and oversight of over 60 wrap-up projects.

IOA’s dedicated Risk Management consultants are located strategically across the United States and provide a vast amount of resources and experience on a wide range of services for IOA Private Clients.

Due to the Nature of the IOA partnership culture, these consultants are available to coordinate high level Risk Management consulting activities for any of IOA’s Private Client customers.  Gary Smith, working with the Chairman, John Ritenour, coordinates the implementation of this consultant group.

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