Industrial Special Risks (ISR) Insurance
Designed to cover a vast range of accidental loss or damages typically faced by large single or multi-location businesses.
What is Industrial Special Risks (ISR) Insurance?
Industrial Special Risks (ISR) insurance is designed to cover a vast range of accidental loss or damages typically faced by large single or multi-location businesses.
An ISR policy is based on an ‘all-risks’ wording, meaning cover is not restricted to nominated threats.Rather, you are protected against all losses and damages excluding property and perils exclusions listed in the policy.
Typically, ISR insurance will provide coverage for:
Loss and/or damage to buildings, plant and machinery, stock, contents, raw materials, unregistered vehicles and the property of directors and employees
Burglary, theft of money and employee dishonesty
Accidental damage and glass breakage
Loss of profits, revenue or rentals and/or increased expenses caused by damage to the insured property
Loss of profits, income or rents and/or increased expenses caused by contingent damage to property at the premises of suppliers, customers and utilities
Exclusions and limits of liability can vary depending on your insurer, and other insurance types may be required to supplement your ISR policy. Refer to your insurance broker and Product Disclosure Statement (PDS) for further information.
Understanding Industrial Special Risks (ISR) Insurance
Industrial special risks insurance premiums vary based on factors such as business size and complexity, industry and risk profile, asset value, and limits amongst others. To get an accurate idea, speak to one of our qualified brokers today.
Contact your NQIB broker to initiate the claim. You may need to provide documentation such as repair quotes, loss assessments, or evidence of asset values. Your broker will manage the process with the insurer.
Industrial Special Risks Insurance is commonly paired with:
- Machinery Breakdown Insurance
- Business Interruption Insurance
- Management Liability Insurance
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