equipment breakdown News

HSB BI&I of Canada Offers Equipment Breakdown Cover for Microelectronics

The Boiler Inspection and Insurance Company of Canada (HSB BI&I), part of Munich Re, announced the introduction of TechAdvantageā„¢, its new standard equipment breakdown policy. The company said it is the first equipment breakdown insurance product covering undetectable physical damage …

QBE Enhances Equipment Breakdown Coverage to Address New Technologies

QBE North America, an operating division of QBE Insurance Group, has enhanced its equipment breakdown coverage with equipment breakdown and technology insurance to cover losses resulting from microelectronic failures. Microelectronics, with circuitry thousands of times smaller than a human hair, …

XL Catlin Adds Equipment Reliability Service to Equipment Breakdown Coverage

XL Catlin’s Equipment Breakdown (EB) insurance group has introduced a new service offering that provides businesses with an assessment to gauge the reliability of production equipment. XL Catlin EB’s new Critical Equipment Reliability report service is designed to help businesses …

XL Catlin Expands Equipment Breakdown Insurance Team

XL Catlin’s North America Property business has expanded its North America underwriting team responsible for its monoline equipment breakdown insurance. XL Catlin’s Equipment Breakdown team’s new underwriting recruits include: Amanda Hernandez in San Francisco – Hernandez has more than a …

HSB Expands Equipment Breakdown, Tech Insurance for ‘Invisible’ Risks

The Hartford Steam Boiler Inspection and Insurance Co. (HSB) is expanding the availability of HSB TechAdvantage, an equipment breakdown insurance that covers undetectable physical damage to microelectronics, by offering policies through agents and brokers. “Technology is leaping ahead with new …

HSB Launches Enhanced Farm Equipment, Machinery Breakdown Coverage

The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has launched a new farm equipment and machinery breakdown coverage with expanded insurance for mobile implements and the precision electronics that control them, among other enhancements. HSB’s …

Liberty Mutual Opens Equipment Breakdown Office in San Francisco, Adds Staff

Liberty Mutual has added senior underwriting and technical engineering resource staff to its equipment breakdown operations, as well as opened a San Francisco office so it can be closer to its partners. The new staff includes: John Volle, senior manager …

Liberty Mutual Launches Assumed Reinsurance for Equipment Breakdown

Liberty Mutual Insurance now offers equipment breakdown assumed reinsurance to insurers through treaties, programs and on a case-by-case basis, giving property/casualty insurers a new source for reinsurance of equipment breakdown. According to Mike Martin, executive vice president and general manager, …

Hartford Steam Boiler Launches Energy Saving Tool for Homeowners Policies

The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, has introduced a new concept in homeowners insurance, HSB HomeWorks, which combines breakdown coverage for home equipment systems, appliances and electronics with a suite of home energy …

HSB to Offer Equipment Breakdown, Data Breach Product

The Hartford Steam Boiler Inspection and Insurance Company (HSB), a part of Munich Re, has launched HSB Freestyle Advantage, an insurance product that combines equipment breakdown coverage with optional data compromise and identity recovery coverage. HSB’s Data Compromise and HSB …