The solution has two pieces.
Click the round button at the top left & click the Word Options button. Choose Advanced on the left, and scroll down to "Cut, Copy & Paste Options". There you can set the default wrap.
The second part is more difficult. From
Microsoft Word 2010 provides no means of creating a style for a picture that you can use to quickly format all of your images in the future. However, you have a workaround involving Quick Parts. Add an image to your document by clicking Insert > Picture and then choosing a picture in the dialog box. Next, click the picture, select the Picture Tools tab, and choose Format. At this point you can adjust how the text should wrap around the picture, indicate whether the text appears on top of the picture, customize a border for the picture, or what have you.
Once you've applied formatting to your satisfaction, click the image to select it and choose Insert > Quick Parts > Save Selection to Quick Part Gallery. Type a name for the image, and choose to save it to the Quick Parts Gallery. Save it in your Building Blocks.dotx file, and click OK.
In the future, you can add this formatted image to a file by choosing Insert > Quick Parts and clicking the image. Then, to change it to the image you actually want in the document, right-click the image, choose Change Picture, and select the new image. The new image will appear in the existing border, thus saving you from having to reproduce the border (and other formatting) each and every time you add a picture to your document.