Specialty risk insurance refers to any insurance policy that is non-traditional or unusual because the person or entity insured is exposed to certain risks. These unusual risks are typically a result of the dangerous nature of the insured’s profession or industry. When an individual or an organization comes into close contact with risks like death, sickness and property damage on a regular basis, they might require special risk insurance. For example: an asbestos contractor is more likely to suffer bodily damage than an office worker. While traditional workers compensation will be suitable for the latter, the asbestos contractor will require specialty risk insurance.