Industrial Insurance

Industrial Insurance – Overview Industrial insurance refers to a group of specialized insurance policies designed to protect large manufacturing, processing, and industrial enterprises against property damage, operational disruptions, and legal liabilities. 1. Industrial All Risk (IAR) Insurance Industrial All Risk (IAR) is a comprehensive policy tailored for large industrial risks, offering wide protection against physical loss or damage and resulting business interruption. IAR operates on an “All Risk” basis, meaning all perils are covered unless specifically excluded. The Policy covers loss or damage due to : • Fire and Special Perils • Burglary • Machinery Breakdown/ Boiler Explosion/ Electronic Equipment Breakdown • Business Interruption due to Fire and Special Perils, Burglary and other accidental damage. 2. Workers’ Compensation Protects both employees and employers against work-related injuries or illnesses. 3. Other Important Industrial Insurance Covers Depending on industry type and exposure, additional specialized covers may be required: Marine Insurance Covers raw materials and finished goods during transit Includes inland and international movements Cyber Liability Insurance Protection against data breaches, ransomware, and cyber-attacks Covers data recovery, legal costs, and regulatory penalties Product Liability Insurance Covers legal liability arising from defective or unsafe products Includes bodily injury and property damage claims