Industrial Special Risks Insurance (ISR) Insurance is a broad coverage business insurance policy. This type of insurance covers a wide scope of damages or losses to high-value physical assets. The coverage includes property, buildings, stock, and machinery. This business insurance suits medium to large corporations that general have combined asset values in excess of $10,000,000.
An Industrial Special Risks (ISR) policy has a broad scope of business cover.
Property damage insurance covers your physical property or building. In cases where storm damage or fire may occur, your building is covered. It also includes the removal and disposal of debris following a loss such as fire. It covers the loss or damage to physical assets owned by the business. ISR policies have many additional benefits under the property section such extra cost of reinstatement when rebuilding and burglary and theft.
There are times when businesses stop operating due to an insurable loss. This may be temporary or longer, depending on the situation. In times like these, sales and profits are affected. It can even lead to bankruptcy if not handled well. With industrial insurance, losses incurred from business interruption including consequential loss can be insured.
When the costs are increased to get the business back on track, expenses can be high. During this time, corporations spend on overtime compensation, use of added facilities, advertising etc. An ISR insurance policy can protect your company from these additional costs if they are necessary to protect business profit.
We believe that an ISR Policy will protect you from damage and consequential loss to your business assets. But who exactly are we referring to?
If you own a business, you are responsible for everything that happens to it. ISR insurance is designed for medium to large corporations but can also be suited to smaller companies. One thing they all have in common is that they have high-value assets. The bigger the investment, the bigger the risk. So, make sure that you think about the well being of the company and your employees. Let us help you select the most appropriate policy and reduce risks in insurance by ensuring that you have adequate cover.
If you seek to invest a large sum of money into a businesses, you should think long-term. Since accidents and losses are inevitable, having business insurance is essential. If you plan on borrowing money from a bank for your business, you will find that the bank will require evidence that cover is in place such as an ISR policy. This is to make sure that the bank’s money is protected.
We believe in securing the future of your company. At FD Beck, we do not sell insurance products, we provide advice and arrange business cover on your behalf. We provide an experience that makes sure your company is protected. FD Beck also ensures that your employees and your investors have nothing to be worried about. So whether you are based in Melbourne, Victoria, or anywhere in Australia, we are within your reach.
Choose the best provider of insurance with a policy fit for you. Choosing our professional services means choosing the future of your company. Make the right choice and get insured with FD Beck! Just visit our website and we will handle everything else for you. Getting insured has never been this convenient!