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HSB Offers Select Warranty For Machinery Sales CONTACT: FOR IMMEDIATE RELEASE HSB Offers Select Warranty For Machinery Sales HARTFORD, Conn., August 1, 2006 — Manufacturers and other businesses can purchase new and used machinery with more confidence when a new extended warranty program, the Select Machinery Warranty, is automatically provided by the seller and backed by The Hartford Steam Boiler Inspection and Insurance Company (HSB), the global equipment breakdown insurer announced today. The Select Machinery Warranty is applicable to all eligible inventory of participating used machinery dealers and new machinery manufacturers, providing extended coverage against mechanical or electrical breakdown. The warranty applies to machinery operated in North America after the dealer’s 30-day return privilege or a standard manufacturer’s warranty expires. The program is administered and underwritten by Hartford Steam Boiler, which has insured and inspected equipment of all types since 1866. “Many used machinery dealers stand behind their products for the first 30 days,” said Richard Williams, HSB vice president for warranty programs, “but an unexpected mechanical breakdown after the machine is in production can adversely impact a good deal very quickly. Likewise, new machinery manufacturers usually provide a warranty for the first year, but their customers want more protection. HSB’s Select Machinery Warranty helps cover breakdowns long after the sale. That offers peace of mind that can be important when purchasing expensive machinery.” Many types of production and process machinery are covered under Hartford Steam Boiler’s Select Machinery Warranty, including computer numeric control (CNC) machines, presses, injection molding, metalworking and measuring machines. The warranty is designed for machinery valued at between $10,000 and $1 million. Hartford Steam Boiler provides claim service to the machinery owner, working closely with the owner and the machinery dealer to get Select Machinery repaired as quickly as possible. Once the extent of a covered loss is determined, Hartford Steam Boiler reimburses the machinery owner directly for the cost of the repair, including parts and labor. The Select Machinery Warranty program distinguishes used machinery sellers as quality dealerships, offering service and value. New machinery manufacturers can add HSB’s program to extend their standard warranties, showing their confidence in their product’s quality and reliability to make their machines more competitive. The Hartford Steam Boiler Inspection and Insurance Company is a global specialty insurer and reinsurer. Hartford Steam Boiler helps clients reduce risk through a unique combination of specialty coverages, engineering-based risk management strategies and loss reduction services. For more information about Hartford Steam Boiler visit its Web site at www.hsb.com. # # # |
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