A fundamental shift in the contractor-controlled insurance program (CCIP) market is insurers' growing appetite for commercial projects of significantly smaller value than such wrap-up programs have traditionally covered.

Construction projects no longer have to carry values in excess of $200 million to attract CCIP underwriters, market executives say. Projects valued at $25 million—and sometimes even substantially less than that—are now eligible for wrap-up coverage.

Unlike in much larger construction projects, however, the coverage for these smaller jobs is being underwritten by surplus-lines insurers.

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