Industrial Special Risks Insurance generally requires more detailed underwriting information than a straightforward Business Insurance package.

The information required depends on the size and complexity of the risk.

What property information is usually required? #

Insurers may require details about each location, including:

• Address.
• Building values.
• Contents values.
• Machinery and plant.
• Stock.
• Other property.
• Construction.
• Building age.
• Occupancy.
• Neighbouring occupancies.

What risk protection information is needed? #

This can include:

• Fire alarms.
• Sprinklers.
• Fire extinguishers.
• Hydrants.
• Security systems.
• Site access.
• Risk management procedures.
• Previous risk engineering reports.

Larger risks may require an insurer survey or risk engineering assessment.

What Business Interruption information is needed? #

Information may include:

• Annual turnover.
• Gross profit.
• Payroll.
• Fixed expenses.
• Increased costs of working.
• Indemnity period required.
• Dependence on key suppliers or customers.
• Time required to replace specialist machinery.

What else may be required? #

Insurers may also ask for:

• Claims history.
• Flood information.
• Natural hazard exposures.
• Machinery details.
• Property valuations.
• Site plans.
• Business descriptions.
• Details of major changes or acquisitions.

Providing complete information at the start can make a significant difference to the quality and accuracy of the ISR placement.