Industrial Special Risk (ISR) Insurance is a broad business insurance policy that provides protection against a range of loss scenarios for businesses with diverse operations.
A comprehensive business insurance policy, an ISR provides protection against damage from perils and can also include cover for loss of profits and additional operating costs for businesses with multi-faceted operations. Designed to protect physical assets and profits, it allows for flexibility across multiple locations and limits can be tailored to suit the nature of your business. It covers all losses caused to property of every kind, unless specifically excluded (commonly referred to as an “all risks” policy).
Which types of businesses would consider taking out an ISR insurance policy?
An ISR is suitable for medium to large organisations who engage in a diverse range of business activities, across multiple locations. It is designed to protect businesses from damage and consequential loss to physical assets, including buildings, stock, plant and machinery.
For example, where your business has stock levels that fluctuate between multiple locations and profitability of one location can impact another, an ISR may be appropriate.
What does ISR insurance cover?
An ISR Insurance policy can provide cover for property damage to valuable assets including:
- Loss and/or damage to buildings, plant and machinery, contents, stock, raw materials, unregistered vehicles and the property of Directors and employees
- Loss of profits, revenue or rentals and/or increased expenses following damage to insured property or contingent damage to property at the premises of suppliers, customers and utilities
- Burglary, theft of money and employee dishonesty
- Accidental damage and glass breakage.
Benefits of an ISR policy
A primary benefit of an ISR policy is the ample level of cover it can provide for your property. The ability to tailor the limits to suit your business and breadth of cover available will see that you are well placed to make decisions for the future of your business with confidence.
