What to look for when considering industrial special risks insurance, and why
Get insurance covers for your business or professional situation in Papua New Guinea.
Different types of insurance can cover the same risk but in different ways
Can a large and complex organisation spell out every exposure it might face?
That's an important question when it comes to material damage and business interruption insurance.
Because it starts with the premise of broad cover, an industrial special risks (ISR) policy can appeal to a large organisation.
Via a range of specific endorsements, the parties can achieve clarity on the level of insurance cover to meet the requirements of the company within its budget.
In contrast to an ISR insurance policy, a fire and perils (F&P) policy tends to appeal to a small or medium-sized organisation.
The fire and perils approach to the policy starts with the premise of narrow cover that the client can broaden by deciding on a range of policy extensions.
For large, complex organisations, the ISR approach to material damage insurance is usually more elegant and easier to manage.
Get industrial special risks insurance for PNG
Your ISR insurance policy can cover assets such as buildings, plant, stock and equipment.
Your independent insurance broker can help you consider any additional clauses you might need.
For example, you can ask to extend the policy with clauses for:
AICOW (Additional Increased Cost Of Working)
Burglary/Theft insurance
Business Interruption
Extra Cost of Reinstatement
Money
And more
Next Steps? Talk to your independent insurance broker about industrial special risks insurance, and ask for a quote from Niugini Assurance.
We may use any information that you directly or indirectly transmit to us to help ensure that we provide you with quality service and to enable us to keep you informed and up to date with any reports, newsletters and or details of product changes. In addition, we may use your information to provide additional information to you about the full range of services we offer. If you do not want to receive this information, you can let us know by emailing infor@nagl.com.pg. The information you provide will be stored physically or electronically (including via cloud storage) by us, or our suppliers in Papua New Guinea, or elsewhere. We will take reasonable steps to ensure that any personal information that we collect is stored securely. You may request access to, or correction of any of the information we hold about you.
TERMS OF USE The terms 'Niugini', ‘NAGL’, ‘we’, ‘us’ and ‘our’ refer to Niugini Assurance Group Limited. The terms ‘you’ and ‘your’ refer to the website user. We may amend these terms at any time without notice, so you should check this page from time to time. Your continued use of the Niugini Assurance website constitutes your acceptance of any amendments. INFORMATION ABOUT US www.niuginiinsurance.com.pg is a site operated by Niugini Assurance Group Limited, which is an insurance company in Papua New Guinea. YOUR VISIT TO OUR WEBSITE We process information about you in accordance with our Privacy Policy depending on where you are located and our Cookie Policy. By using our website, you consent to such processing. You must not misuse the Niugini Assurance website, including by introducing virus, trojans, worms or other materials, by adding to, removing, attacking or otherwise interfering with the Niugini Assurance website, any material or content displayed on it, or any server on which it is stored.