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Industrial Special Risks insurance, commonly known as ISR, is a broad form commercial property policy designed for large or complex properties where the sum insured exceeds the thresholds that standard commercial insurance products are designed to handle. ISR policies are typically written on an all risks basis, meaning cover applies unless a risk is specifically excluded, rather than only covering the perils listed in the policy.
At Strata Building Insurance Brokers, we place ISR cover for strata schemes, commercial property owners, developers, and investors whose buildings have outgrown standard products. ISR is a specialist class of insurance that requires an experienced broker to present the risk properly to the market. Getting the policy structure right from the start is what determines whether a claim pays out the way it should.
We understand how to present large and complex property risks to the ISR market and how to structure cover that holds up at claim time.
Send us your property details and in most cases we will have a quote back to you the same day.
Own more than one property? We can place multiple buildings under a single ISR policy, simplifying your insurance program and renewal process considerably.
Our obligation is to the insured, not the insurer. That does not change regardless of the size or complexity of the risk.
Tell us the property details, building type, and estimated sum insured. The more information you can provide upfront, the faster we can move.
ISR requires a properly prepared submission. We gather what insurers need, present the risk accurately, and approach the right specialist markets.
You receive a clear breakdown of cover, exclusions, and pricing. We make sure you understand what you are buying before anything is bound.
Once you approve, we bind the policy and issue all documentation. Your property has the cover its complexity demands.
Industrial Special Risks insurance, or ISR, is a broad form commercial property policy designed for large, complex, or high-value properties. Unlike standard commercial policies that list the specific events they cover, ISR policies are generally written on an all risks basis, meaning everything is covered unless it is specifically excluded. This makes ISR a more comprehensive form of cover for properties where the exposure warrants it.
ISR is typically suited to large commercial buildings, industrial facilities, significant strata schemes, mixed use developments, shopping centres, warehouses, factories, and high-value residential or commercial complexes. The trigger is generally the sum insured rather than the property type, though the nature of the risk also plays a role. If your property has outgrown standard commercial insurance, ISR is worth discussing.
ISR policies in Australia are generally available from around $5 million in sum insured, though the threshold varies between insurers and underwriting agencies. Properties below this threshold are usually better suited to standard commercial or strata insurance products. We can advise on whether ISR is the right fit for your property based on its value and risk profile.
Yes, and this is one of the genuine practical advantages of ISR over standard commercial property products. Multiple properties can be scheduled under a single ISR policy, each with its own sum insured and location details. For investors, developers, and property groups with a portfolio of assets, this approach simplifies administration, consolidates your renewal date, and can also improve your negotiating position with insurers when presenting a larger book of risk. We can structure a portfolio submission and approach the market accordingly.
An ISR policy typically covers material damage to the property on an all risks basis, as well as business interruption or loss of rent following an insured event. Additional covers such as machinery breakdown, deterioration of stock, and liability can also be incorporated depending on the insurer and the structure of the policy. The breadth of cover is one of the key advantages of ISR over standard commercial property products.
There is no specific legislative requirement to hold an ISR policy rather than a standard strata policy. However, for large strata schemes with high replacement values, ISR may provide significantly broader cover than a standard strata product and can be a more appropriate solution. We can review your scheme’s current cover and advise on whether ISR would better serve the owners corporation.
The key difference is the basis of cover. Standard commercial property policies list the specific perils they cover, such as fire, storm, or water damage. ISR policies work the other way, covering all risks unless specifically excluded. This all risks basis generally results in broader, more comprehensive protection, which is why ISR is the preferred product for large or complex property risks.
Common exclusions under ISR policies include wear and tear, gradual deterioration, faulty workmanship, acts of war, and certain natural catastrophe events depending on the policy wording and the insurer. Flood cover under ISR can vary significantly between insurers and is worth examining carefully. We review exclusions with you as part of the placement process so there are no surprises at claim time.
Business interruption and loss of rent cover under an ISR policy provides protection for the income lost while a property is being repaired or rebuilt following an insured material damage event. The indemnity period, which is the length of time the cover applies, is one of the most important policy features to get right. Underestimating the indemnity period is a common mistake that can leave property owners seriously exposed after a major loss.
Call us or use the quote form on this page. We will ask the right questions about your property, review your current cover, and give you a straight answer on whether ISR is genuinely suited to your situation or whether a standard product would serve you just as well. There is no obligation and no pressure. We would rather give you the right advice than place a policy that does not fit.
