Property All Risk or Industrial All Risk (IAR) insurance is a comprehensive insurance policy that covers a wide range of potential risks and damages to a business’s physical assets. This type of insurance typically provides protection against unforeseen events like fire, theft, vandalism, natural disasters, and accidental damage to property, equipment, and inventory.
In Singapore, where businesses face a variety of risks due to urban density, evolving weather patterns, and high-value property, IAR insurance is especially important. It provides businesses with financial security by covering repair or replacement costs when physical assets are damaged or lost, allowing business operations to resume with minimal disruption. For companies operating in sectors like retail, manufacturing, construction, and services, this insurance can safeguard against potentially significant financial losses.
IAR insurance is valuable not only for protecting a business’s assets but also for ensuring continuity and stability. By mitigating the costs and impacts of unexpected events, it enables businesses in Singapore to plan confidently for growth, knowing they have a safety net in place to manage the unexpected.
Industrial All Risk typically covers:
- All Risks, Fire &/Or just Insured Perils
- Business Interruption
- Burglary or Theft
- Money
- Plate Glass
- Stocks
- Machinery & Equipment
