A broad-form property and business interruption policy written for larger commercial and industrial operations, where a standard business pack no longer fits the risk.
An Industrial Special Risks policy is a broad-form property policy. Rather than listing the perils that are covered, it generally covers physical loss or damage to the insured property unless a peril is specifically excluded. This approach suits larger operations where the range of possible losses is too wide to list.
An ISR is usually written in two sections — material damage and consequential loss (business interruption).
ISR is generally appropriate for businesses that have outgrown a packaged business insurance policy. Typical characteristics include:
| Section | What it generally addresses |
|---|---|
| Section 1 — Material Damage | Physical loss or damage to insured property including buildings, plant and machinery, stock, contents and, where declared, property in the open air. |
| Section 2 — Consequential Loss | Loss of gross profit or revenue and increased cost of working following an insured material damage event, for the indemnity period selected. |
This page is general information only and is not advice. The availability of cover, terms, conditions, exclusions, limits and premiums are determined by the relevant insurer and are subject to their underwriting criteria and policy documentation. Subject to policy terms and conditions, and policy wordings.
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