Industrial all risks property insurance

Industrial all risks property insurance is the base policy protecting an industrial company's physical assets: buildings, machinery, stock, installations. It bundles under one contract fire and explosion, natural and weather events, the compulsory French natural catastrophe scheme, water damage, theft, and most often the resulting business interruption. Two wordings coexist. On a named-perils basis, only what is listed is covered, and the burden of proving the peril lies with the insured. On an all-risks basis, all accidental physical damage is covered unless excluded, and the burden of proving the exclusion lies with the insurer. For large sites, the program is built in layers and through coinsurance, because no single insurer commits several hundred million euros to one plant. Underwriting rests on the risk survey, which sets the probability and scale of the maximum loss, and on prevention commitments: sprinklers, fire compartments, hot work permits. Additional covers then often decide the policy's real quality: debris removal, increased cost of construction, supplier contingency. Since the rise of cyber risk, whether a fire caused by a computer intrusion falls within this policy has become a drafting issue in its own right.