Industrial Special Risks

Industrial Special Risks (ISR) insurance is designed for larger organisations (usually insurable asset values over $5,000,000), where the size and diversity of the operations make it practical to combine individual policies (fire, consequential loss, theft, money and glass). Cover extends to include physical loss, destruction or damage to all real and personal property of every kind and description belonging to the insured or for which the insured is responsible or has assumed responsibility to insure prior to the loss.

The Industrial Special Risks Insurance policy is a complex contract, but basically covers first-party property damage by any cause not otherwise excluded under the policy. Indirect loss exposures can also be covered. These include:

• Loss of income due to insured property damage.
• Extra expenses in continuing the business following direct property loss and contingent losses following direct damage to suppliers, customers and utilities.