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ISR

Industrial Special Risks

Industrial special risks or “ISR” covers property damage and consequential loss of revenue for medium to large businesses, including property, buildings, materials, and machinery. For most organisations in Australia, standard business insurance does not adequately cover their business for risks and exposure that can ruin their operations and livelihood.

The ISR policy can cover you for many kinds of disasters or catastrophes – from fire, storm or earthquake, consequential loss to theft or money and glass. Your policy would be subject to sub-limits, limitations and terms negotiated as part of the policy with your East West Broker.

Learn how EWIB can help you

At first sight, the ISR insurance policy wording may appear technical, and in its current form, is heavily endorsed. However, where there is a choice between a more plainly worded business insurance policy and ISR policy, often we would suggest an ISR policy. The reason being, our brokers are specialised in small business insurance and have the experience to tailor an ISR insurance policy specifically to your business needs.

The ISR policy wording is very well understood by the Australian Courts and endorsements have been made in response to key rulings over the years, to further protect policyholders. We don’t wish for the settlement of your claim to require litigation. However, the weight of legal precedence is a major benefit of this venerable Australian policy wording.

Benefits in this policy may 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 rents and/or increased expenses caused by damage to insured property.
  • Loss of profits, revenue and/or increased expenses caused by contingent damage to property at the premises of suppliers, customers, and utilities.
  • Burglary, theft, or money, and employee dishonesty.
  • Accidental damage and glass breakage.

To learn more about other insurance products we can assist you with, please click here to view more.

Why Is Industrial Special Risks Insurance Important?

The ISR policy is typically the broadest and most flexible property insurance available and is the most desirable policy for commercial clients with insured values greater than $3,000,000 (although this minimum does vary between insurers).

At East West Insurance Brokers, we understand that ISR policies can be quite complex, thus, we require a full analysis for you to understand the possible risks. Then, we’ll develop an appropriate risk protection policy for your business. Due to our experience in this area, we’re able to suggest the most appropriate ISR policy for you, brief you on your business risks in detail and negotiate competitive terms with insurance companies and underwriters.

How Confident Are You that Your Insurance Risks are Adequately Covered?

East West Insurance Brokers aim to arrange the most appropriate cover for you by providing tailored solutions to suit your business needs. We will also support and assist you, in the event of a claim.

Speak to us to ensure your business is protected with appropriate industrial special risks insurance today.

*Please note all insurance policies have exclusions. Please refer to the Product Disclosure Statement or Policy Wording before deciding whether the insurance policy meets your needs.

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