Special risks business insurance

Your business may be considered a special risk for several reasons, such as the nature of your activities (for example, working at heights, use of hazardous materials), the location of your business in a high-risk area, the unusual value of your equipment or inventory, or if your sector of activity is particularly prone to litigation.

Yes, generally, special or non-standard risk insurance can be more expensive than standard policies, due to the higher level of risk associated with your business. The cost will depend on the specific nature of the risk, the extent of the coverage desired, and the risk prevention and management measures you have in place.

The sectors most often classified as “special risks” include: restaurants and bars, construction and renovation companies, establishments using hazardous materials, companies with a history of losses, vacant buildings, heavy industries and manufacturing, as well as start-ups in innovative sectors.

To reduce your premium: implement a documented risk prevention program, install security systems (fire alarm, cameras, sprinklers), maintain a good claims history, consolidate your policies with the same insurer and work with an independent broker like Assur360 who has access to specialized markets.

Standard insurance covers common risks (fire, theft, civil liability) with pre-established conditions. Special risk insurance is tailor-made for companies that traditional insurers refuse or overcharge. It requires an in-depth analysis of the case and calls on specialized markets such as Lloyd’s of London or surplus insurers.

An independent broker has access to specialized markets and excess insurers that are directly inaccessible. He negotiates on your behalf, analyzes your specific risks and puts together a solid file to obtain the best conditions. At Assur360, our AMF-certified brokers have the expertise to place even the most complex risks.