Industrial Special Risk (ISR) Insurance offers extensive coverage for businesses, protecting against a variety of loss scenarios or damage to high-value physical assets. This includes property, buildings, materials, and machinery.
Do I need ISR Insurance?
If you own a business or commercial property with insured assets or high-value items exceeding $5 million, Industrial Special Risk (ISR) Insurance is worth considering. Please note that minimum value requirements may vary by insurer.
While ISR Insurance is ideally suited for medium to large organisations, it can also be appropriate for smaller companies with valuable assets.
What does ISR Insurance cover?
An ISR Insurance Policy provides cover for property damage to your valuable assets by any cause not excluded under your policy.
Cover can include:
- 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 caused by damage to insured property
- Loss of profits, revenue or rentals and/or increased expenses caused by contingent damage to property at the premises of suppliers, customers and utilities
- Burglary, theft of money and employee dishonesty
- Accidental damage and glass breakage
Important Tips
Additional property policies such as Machinery Breakdown, Marine Transit, Electronic Equipment, Motor, Aviation/Marine-Hull, or Fine Arts may be necessary to complement an ISR policy.
ISR policies are often called ‘all risks’ policies due to their extensive coverage. However, this term can be misleading, as coverage can vary between policies. Always consult with your insurance broker to confirm the specifics of your coverage.
General Advice Warning
The information provided on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice on this website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making a decision based on this advice you should consider whether it is appropriate to your particular circumstances.
Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a disclosure document, including the Product Disclosure Statement (PDS) and, where available, Target Market Determination (TMD) relating to the product and consider the content before making any decision about whether to acquire the product.
Authorised by Clearlake Insurance Brokers ABN 16 651 113 861 AFSL 559829
How Clearlake Insurance can help
At Clearlake Insurance Brokers, we recognise that each business has unique needs. That's why we take the time to thoroughly assess your specific risk management requirements and exposures to provide the ideal ISR insurance solution tailored to safeguard your business and its assets.
For more information or to arrange cover, please contact us on 02 9037 8970 or simply fill out the form below and one of our insurance brokers will get in touch shortly.
