Who qualifies as an industrial insured?

The designation of an industrial insured specifically refers to a business or organization that has the capacity to negotiate and procure its own insurance coverage, often possessing the expertise and resources to understand and manage complex insurance needs. In this context, a sophisticated insured utilizing their own employee purchasers demonstrates an understanding of their insurance requirements and engages in the purchasing process on their own behalf, which aligns with the concept of an industrial insured.

This category of insureds generally includes businesses that are larger or more complex and thus have unique insurance needs that standard options may not sufficiently address. They typically have a certain volume of business and may have specialized insurance requirements that necessitate custom factoring in by insurance providers. Individual purchasers or those looking for typical personal insurance policies do not meet the criteria for being classified as industrial insureds, as they lack the organizational structure or sophisticated understanding of the insurance marketplace that characterizes industrial insureds.