Specialty Coverage

Specialty Coverage Basics

Hartford Steam Boiler offers a variety of specialty insurance products beyond equipment breakdown insurance: 

HSB Back.Up is a multi-peril protection plan for computer systems that are vital to business.  This insurance is designed to cover business owners in the event a system breakdown disrupts operations or threatens profits.  

Employment Practices Liability Insurance (EPLI) protects companies, directors & officers and employees for claims resulting from wrongful acts arising from the employment process, such as termination, discrimination, sexual harassment, wrongful discipline and failure to employ or promote. HSB offers EPLI coverage exclusively through arrangements with our reinsured client insurance companies.  Defense costs are an important coverage feature.  Whether the insured is innocent or guilty, defense costs can be significant.

EPLI Typical Exposures 

HSB Back.Up - Covered Perils

HSB Back.Up is a muti-peril property coverage for computer systems. It covers data processing equipment, data and media, and extra expense needed to set up operations elsewhere or rent other equipment.

Covered perils:

  • Fire and extended perils
  • Electrical arcing/short circuits  (surge protection must be in place)
  • Mechanical breakdown perils

HSB Back.Up - Coverage Highlights

HSB Back.Up covers a variety of losses associated with computer systems.  HSB Back.Up covers:

  • Physical damage to equipment
  • Costs to reconstruct data
  • Extra expense, for example the cost of hiring a data center or renting equipment while repairs are underway
  • Mysterious disappearance and theft  (anti-theft protection required)

 

HSB Back.Up limits are determined by a customer’s need.  The policy has a single combined deductible. Here’s a closer look at what the policy pays for resulting from a “covered accident” as defined in a typical policy:

  • Covered Property - computer systems, software, and attached peripherals, such as printers, monitors, terminals, external disk and tape drives, keyboards, and modems.
  • Data Processing Equipment - pays for the cost to repair or replace damaged hardware.  Covers multiple perils, including mechanical and electrical breakdown.
  • Data and Media - pays for cost to replace or reconstruct software or electronic data damaged by a covered loss.
  • Extra Expense - pays for the additional costs incurred after a loss to maintain data processing capability.
  • Loss of Income - pays for the lost business income due to a total or partial interruption of business caused by a covered loss.
  • Theft - pays for loss if equipment is stolen.
  • Duplicates - pays for loss to backup data and media that are stored off site.
  • Transit/Off Premises - pays for loss to equipment that is away from an insured location.
  • Debris Removal - pays for the cost to remove debris of covered property after a loss.
  • Wind - pays for loss caused by wind.
  • Flood - pays for loss caused by flood.
  • Newly Acquired Property - pays for loss to equipment acquired after the insurance policy takes effect.
  • Newly Acquired Locations - pays for loss at locations acquired after the insurance policy takes effect.
  • Surge Suppression Requirement - The insured must have all of the equipment attached to an Underwriters Laboratories (UL) listed and Transient Voltage Surge Suppression “TVSS” inscribed power surge suppression device.  We believe that the use of this type of surge suppression device is an extremely effective loss prevention method that should be employed by all data processing equipment users.  HSB also provides expertise in power quality issues, disaster recovery guidelines and data recovery guidelines.

 

This is a general summary of coverage. For all coverage terms and exclusions, please review the actual insurance policy.

HSB Back.Up -Targeted Industry Groups

HSB Back.Up was designed for particular industries that have computer system exposures.  Typically, HSB Back.Up is targeted to businesses and organizations that are keenly aware of the importance of computer systems to their operation and have appropriate back-up procedures for data. 

These targeted groups include:

  • Architectural firms
  • Business services
  • Finance companies
  • Insurance and real estate firms
  • Retail
  • Art and membership organizations
  • Educational and social services
  • Health services
  • Hospitals

 

HSB avoids underwriting software companies, internet firms, and other computer-focused businesses.