What does ISR stand for?

Industrial Special Risks – insurance designed to protect large or complex businesses beyond standard coverage limits.

What types of risks are generally covered?

Damage, loss, theft, fire, natural disasters, accidental damage, and business interruption losses.

What are the benefits of ISR Insurance?

Comprehensive coverage, consolidated protection, and risk management guidance.

What are the drawbacks?

Some exclusions (e.g., war, nuclear events, certain machinery breakdowns). Risks are not included in an ISR unless explicitly specified, for example, machinery breakdown.

How does ISR differ from other insurance types?

It combines multiple coverages (property, interruption, theft, glass) under one flexible policy – unlike standard or liability-only insurance.

How can I obtain the right coverage?

Consult with an insurance broker who can help assess your risks, provide guidance, compare policy wordings and negotiate with insures on your behalf.

ISR Insurance *

Looking for essential risk protection for complex, high-value assets and operations? ISR insurance offers peace of mind for diverse businesses managing large property, equipment, or stock risks.

What is ISR Insurance?*

Industrial special risks insurance, often abbreviated to ISR insurance, is a comprehensive and highly customizable policy for medium and large businesses with significant assets. It protects major physical assets like property, plant, stock, and equipment from risks like damage and theft.

Australian enterprises have lots of high-value assets that can be protected under ISR insurance. While this insurance isn’t universally required, it’s essential for ensuring financial stability and uninterrupted operations after unexpected events like fires, storms, and other damage.

ISR insurance can cover costs associated with storms, theft, and other perils, preventing the business from facing financial loss. Certain covers like flood and machinery breakdown aren’t always included in standard policies, but they can be added depending on your business needs.

Broad Perils Coverage

ISR Insurance may help protect your business against a range of physical loss or damage events, including fire, storm, vehicle impact, malicious damage and other defined perils.

Business Interruption Support

Cover is designed to assist with loss of gross profit and the increased costs of operating if operations are disrupted by an insured event.

Appropriate for Your Needs

Policies can be arranged with optional extensions to suit the scale and nature of your assets and risk profile.

What Does ISR Insurance Cover? *

Industrial Special Risks insurance covers:

Commercial property and buildings
Plant and equipment
Stock and inventory
Gross profit loss due to business interruption
Theft, burglary, and vandalism
Additions like flood and machinery breakdown as requested

Get Suitable Cover for Your Business Today

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Frequently Asked Questions

What Types of Businesses Need ISR Insurance?

ISR insurance is for businesses typically with assets over $5,000,000 – $10,000,000, depending on the insurer. This includes companies with high-value equipment, multiple locations, or complex operations, such as those in the manufacturing, logistics, and wholesale sectors.

What Events are Covered Under ISR Insurance?

This insurance typically covers perils that lead to significant financial losses, such as fires, storms, theft, and malicious acts. Predictable events, such as wear and tear, aren’t included.

How is the Sum Insured Determined?

The sum insured are determined by the replacement cost for physical assets like buildings, plant, and stock, your insurable gross profit and particular sub-limits. An ISR Policy contains a limit of liability for any one claim, which should be sufficient to cover a total loss of both your physical assets and the gross profit of the business.

Can ISR Insurance be Customised?

Yes, ISR insurance is highly customisable, allowing businesses to tailor it to their needs. Companies can adjust limits, exclude specific risks, or add extensions for perils like floods.

How Does a Claim Work with an ISR Policy?

Under an Industrial Special Risks (ISR) policy in Australia, the business must report the loss to its broker and/or insurer as soon as practicable. Depending on the nature and complexity of the claim, the insurer may appoint relevant parties, including (but not limited to) loss adjusters, assessors, restoration contractors, builders, and surveyors.

Depending on the circumstances of the loss, repairs may be undertaken, or a cash settlement may be provided to enable the replacement of damaged stock, plant, and equipment. Where applicable, the insurer will also assess the loss of gross profit under the business interruption section of the policy.

What Affects ISR Insurance Premiums?

ISR insurance premiums can be affected by various business factors, such as industry and business activities, value of assets and gross profit, location, construction of building, and claims history. External factors like inflation and rising claims for specific perils can impact the amount too.