What Is Industrial Special Risk (ISR) Insurance?

Industrial Special Risk (ISR) Insurance is designed to safeguard businesses with substantial assets and operations by offering broad protection against a wide range of risks.

This specialised policy covers property damage, business interruption, and other financial losses caused by events such as fire, theft, storm, or machinery breakdown. ISR Insurance is particularly suited to medium to large-scale businesses with complex operations, providing tailored protection to ensure business continuity and resilience. It offers the flexibility to address the unique needs of your business, helping to minimise disruptions and financial impact during unforeseen circumstances.

Why Is ISR Insurance Necessary?

ISR Insurance is essential for businesses with significant assets and operations, providing comprehensive protection against major risks that could threaten their financial stability.

Here’s a closer look at why it’s necessary:

Comprehensive Protection Against Major Risks

ISR Insurance provides extensive coverage for risks such as fire, natural disasters, theft, and equipment breakdown. Without it, businesses face the possibility of significant financial losses and operational disruptions that can be challenging to recover from.

 

Safeguarding Business Assets and Operations

This insurance is specifically designed to protect high-value assets, including buildings, machinery, and stock. It also ensures business continuity by covering financial losses during interruptions caused by insured events, helping businesses maintain operations and minimise downtime.

Financial Stability and Risk Management

Major incidents can be financially devastating, affecting cash flow and profitability. ISR Insurance provides a safety net by covering repair, replacement, and business recovery costs, ensuring the company remains stable and financially secure.

Tailored Coverage for Complex Needs

Every business is different, and ISR Insurance offers flexible options to suit the unique requirements of medium to large enterprises. This tailored approach ensures that all key risks are covered, reducing gaps in protection and addressing specific industry-related challenges.

Compliance and Credibility

For many industries, having ISR Insurance is not just a safeguard but also a requirement for regulatory compliance or business contracts. Holding a robust policy demonstrates responsibility and reliability, strengthening relationships with stakeholders and partners.

Peace of Mind for Business Owners and Stakeholders

Knowing that your business is protected against unexpected and potentially catastrophic events allows owners and managers to focus on growth and strategy rather than worrying about what-ifs. ISR Insurance provides the confidence to operate in a volatile environment without unnecessary risk exposure.

Coverage for Diverse Risks

Whether it’s property damage from a severe storm, losses due to theft, or an operational halt from equipment failure, ISR Insurance is designed to provide broad and adaptable protection. This ensures businesses can navigate challenges without compromising their financial health or long-term viability.

 

In essence, ISR Insurance is a vital component of a business’s risk management strategy. It enables companies to recover quickly from unforeseen incidents, protect their assets, and ensure long-term stability in a competitive and unpredictable market.

What Are Some Key Factors to Consider?

When applying for an Industrial Special Risk (ISR) Insurance policy, it’s crucial to evaluate various factors to ensure the coverage aligns with your business’s unique requirements:

The cost of an ISR Insurance Policy can vary widely.

01

Type of Business & Industry

02

Business Assets and Property Value

03

Industry-Specific Risks

04

Business Interruption Needs

05

Products or Services Offered

06

Business Location & Territory

07

Annual Revenue & Turnover

08

Claims History

09

Contractual Obligations

10

Risk Management Procedures

11

Policy Limit & Excess

Why Choose KBI for Industrial Special Risk (ISR) Insurance?

01

Risk Based Insurance Program Design

  • We can guide the process to identify and quantify corporate and operational risk profiles. 
  • We help assess or determine risk appetite.
  • We assist in commercially testing insurance options (cost vs benefit analysis).
02

Program Placement

  • KBI leverages both local and global insurance markets to ensure the best outcomes for clients.
  • KBI provides contract review services to understand fair apportionment of risk allocation to third parties to better protect the insurance placement.
  • KBI has the access and flexibility to engage third party specialists who are suited to clients individual needs.
  • We can work to tailor policies with agreed endorsement wordings and/or bespoke policy wordings to ensure broadest coverage is achieved.
03

Streamlined Client Service

  • KBI is wholly owned by its employees and directors, giving brokers a genuine “care factor” towards clients.
  • Pro-active industry-specialist brokers who are hands on, keep abreast of industry news and focus on proactive advice and service to ensure client’s insurance strategy remains suitable to changing needs.
  • Advice driven, not transactions – our model is based on partnership and providing expert advice, guiding our clients along our journey together.
04

Claims Management/Advisory

  • Dedicated in-house claims management team (including the placement broker), to streamline and simplify the claims process for our clients.
  • We partner with leading loss adjusters / solicitors, agreed at the time of placement, not at claim time.
  • We can help to have policies in place to include claims preparation costs, advancement of defence cost to aid clients during time of need.
Specialised expertise

Our Industrial Special Risk Insurance Team

Our team of industry specialists are here to help.

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Cecilia Benitez

Account Manager

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Brooke Shields

Director

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Caitlin Waltham

Account Executive

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Brett Coultas

Account Executive

get in touch

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Contact us today to get specialised, tailored advice for your specific needs.

Industrial Special Risk (ISR) Insurance

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