E&B Contracting has been invited to bid on a project for which a wrap-up construction insurance program is being considered. E&B is not clear as to how insurance costs should be factored into its bid. Which of the following statements accurately describes how wrap-up insurance is handled in most jurisdictions?

a. A wrap-up construction insurance program applies to property insurance only.

b. A wrap-up construction insurance program combines all participants for experience rating purposes only.

c. The owner or general contractor buys much coverage for all participants, but workers' compensation insurance policies are issued for each participating contractor.

d. The owner or general contractor buys workers' compensation insurance, but most other coverage’s are bought by each participating contractor.