For many organisations in Australia, standard business insurance does not adequately cover their business for the risks and exposures that can cripple their operations and livelihood.
An Industrial Special Risks Insurance policy has open-ended wording, which means cover is not limited to selected risks. Instead, you are protected against most losses and damages except for exclusions noted in the policy.
Businesses with a large amount of assets &/or locations, particularly those who have a combined asset & insurable gross profit exceeding $5,000,000.
- 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 rentals and/or increased expenses caused by damage to insured property and also by contingent damage to property at the premises of suppliers, customers and utilities
- Burglary, theft of money and employee dishonesty
- Accidental damage and glass breakage
- Removal of debris, extra costs or reinstatement, rewriting of records and professional fees.
To lower the risk of fire, choose a business location that is not located to closely to bushes or high fire risk occupancies.
To lower the risk of water damage, It may be important to ascertain the condition of the water system (i.e. is it old or in need of repair). Premises located in areas where there are very low temperatures present an additional hazard. In such areas where pipes are exposed the water may freeze and may split the pipe. On thawing, the water can escape from the split pipe and cause damage. Adequate insulation on the pipes is essential.
To lower the risk of malicious damage & vandalism choose a business location that is not deserted after dark or is in a high crime area, this will be a particular concern.
Our Brisbane Insurance Brokers can help you get the right insurance cover by assessing your specific needs and recommending the best value insurance solution for your business, whilst still maintaining the highest standard of cover.
Contact us today to get an Industrial Special Risks (ISR) Insurance Quote.
Surround yourself with professionals who make your life easier, when you call through to us – this is our objective.