What is Industrial Special Risk Insurance?
Industrial Special Risk (ISR) insurance is designed for businesses with high-value physical assets or complex risk exposures. In Australia, ISR policies provide broad protection under a single package, covering property damage and financial losses from a wide range of events. This makes it a preferred choice for large businesses, manufacturers, warehouses, and organisations with multiple locations.
What Does Industrial Special Risk Insurance Cover?
Typical features of industrial special risk insurance Australia include:
Types of Industrial Special Risk Insurance in Australia
Property Damage Cover
Protects buildings, equipment, plant, and stock from a wide range of events including fire, storms, and accidental damage. This is the core of an ISR policy.
Business Interruption Cover
Provides financial protection if your operations are disrupted after an insured event. Covers loss of income and additional operating expenses needed to keep the business running.
Machinery Breakdown Cover
Optional extension that covers sudden breakdown of key machinery or equipment, reducing the risk of costly downtime.
Theft and Burglary Cover
Protects against the loss of stock, tools, or equipment through burglary or theft, whether on-site or in secure storage.
Catastrophe and Natural Disaster Cover
Provides additional protection for events such as bushfires, earthquakes, cyclones, or floods, which can cause significant damage to industrial assets.
Why Consider Industrial Special Risk Insurance?
Large businesses face unique risks that standard commercial property policies may not fully address. Industrial special risk insurance Australia provides:
