Material damage
- Buildings
- Plant and machinery
- Stock
- Infrastructure
Industrial special risks insurance
Industrial special risks, clearly understood.
Industrial special risks, or ISR, is designed for businesses whose assets, sites and operations no longer fit a simple property policy. Where a program has grown into several separate policies that no longer line up, ISR can bring them into one structure. It is not the right answer for every business, and our work is to decide whether it is for yours.
The basics
What is industrial special risks insurance?
ISR is a broad property policy that covers all risks unless they are specifically excluded. It usually combines material damage with business interruption, and it can be extended to cover machinery breakdown, transit and more.
ISR is usually chosen by businesses with large asset bases, several sites or operations that depend on one another.
Cover
What ISR covers.
An ISR program is usually built on two parts.
Business interruption
- Loss of income following an insured event
- Additional costs of keeping the business running
- Losses caused by problems at suppliers or customers, where included
Fire and storm come to mind first, but the policy wording sets the limits of protection. Business interruption is often the bigger loss, because income can stay lost long after the physical damage is repaired.
The indemnity period
Recovery seldom runs to plan.
The indemnity period is the length of time the policy pays for business interruption after an event. Options commonly run from one to three years.
Rebuilds overrun, specialist equipment can take months to arrive, and approvals or supply problems add delay. If the period ends before trading is back to normal, cover stops and the shortfall falls on the business.
One program
Why consolidate into one program?
Many businesses arrive at ISR with a program that has grown one policy at a time. Bringing it together means one set of terms, fewer gaps and overlaps between covers, and one claims process when an event affects several sites or functions.
Consolidation is not always the right answer. Some businesses are better served by separate policies, and we say so when that is the case.
Getting it right
Four decisions that shape your cover.
How are values set?
Declared values and the basis of settlement decide what is paid. They need to reflect the cost to rebuild and replace across every site.
How long is the indemnity period?
It should reflect how long recovery would realistically take, including long-lead equipment and approvals.
What does the business depend on?
Key suppliers, customers, shared sites and production bottlenecks can drive the loss more than the damage itself.
What will you carry yourself?
Excesses and waiting periods shape the premium and how the program behaves in a claim.
Our advice
How Contega approaches industrial special risks.
Our advice begins with how the business really operates: how sites connect, what it depends on and where the exposures are that financial statements do not show. From there we structure cover around those risks.
Where practice can be strengthened, we say so. Business continuity planning, supplier diversification and sound maintenance reduce the size of a loss, and they can improve the terms you are offered.
Insurance is one part of the solution. We help you weigh what to transfer to an insurer, what to carry and what to reduce through better practice, then arrange the cover you choose.
If something does go wrong, we stay alongside you from the first notification.
Our approach
Four stages, whether we are starting from a renewal or a blank page.
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Observe
We learn how your sites, equipment and suppliers fit together.
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Analyse
We work through the exposures, including values, interdependencies and how long recovery could take.
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Protect
We recommend a way forward and arrange the cover you choose, with options and cost side by side.
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Stay alongside
We stay close through renewals, changes in operations and, if it happens, a claim.
Talk to us
Let’s start with what matters.
Have a question about your property program, an upcoming renewal or a new site? Tell us what prompted the enquiry and we will work out the next step together.
Contact details
- Sydney
- Level 9, 32 York Street
Sydney NSW 2000 - Melbourne
- 489–505 Toorak Road
Toorak VIC 3142
A Cohabit Group company
Contega is the commercial risk advisory business within the Cohabit Group, a risk intelligence company built around clearer data, better decisions and smarter insurance outcomes.
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