The Brownyard Group, based in Bay Shore, N.Y., is offering Equipment Breakdown coverage for its security guard (Brownguard), pest control operators (PCOpro) and cosmetic manufacturers (Foundation) programs.
Coverage is written through The Hartford Steam Boiler Inspection and Insurance Co., rated “A+” (Superior) by A.M. Best. The Equipment Breakdown policy covers financial losses caused by electrical arcing, mechanical breakdown, power surges, centrifugal force, boiler overheating, cracking, bulging and sagging, and other equipment, machinery and system breakdowns.
“Businesses of all types, including those in pest control, security guard and cosmetic manufacturing industries, rely heavily on costly equipment and new technologies,” said Peter Young, account manager/underwriter of Brownyard’s Commercial Auto and Property Program. “With this reliance come significant financial implications if and when there are equipment breakdowns, many of which are excluded from standard policies.”
Brownyard’s Equipment Breakdown coverage includes:
• Direct property loss to repair or replace damaged equipment.
• Extra expense losses when business is interrupted.
• Other expenses incurred to limit the loss or speed business restoration.
• The loss value of spoiled products or materials.
Equipment covered under the policy, includes boilers and pressure vessels, water heaters, heating and cooling systems, refrigeration units, all types of computer and communication systems, and more.
Source: Brownyard Group,