New at HSB

HSB Offers Monoline Equipment Breakdown Quotes Direct From Agency Systems.  The Hartford Steam Boiler Inspection and Insurance Company (HSB) is the first carrier to enable independent agents and brokers to quote monoline equipment breakdown policies directly from their Vertafore agency management systems via Vertafore’s TransactNOW® application. TransactNOW® gives agents a seamless single-entry workflow capability.  Agents can access HSB InstantQuote online without leaving their Vertafore management system — AMS 360®, Sagitta® or AfW®.  HSB has eliminated the need to enter a separate HSB user name and password, so agents can get equipment breakdown quotes faster and manage their HSB equipment breakdown policies more efficiently online. There’s also no need to re-enter client data. Agents can simply upload it from their agency management system directly to HSB InstantQuote, without interrupting their workflow.

Hartford Steam Boiler Offers New Service Line Coverage for Homeowners  - The Hartford Steam Boiler Inspection and Insurance Company (HSB) is offering a new Service Line coverage, which can pay to repair underground outdoor water, sewer and electrical service lines that fail because of damage that would be excluded under most homeowners policies.  Service Line coverage provides payment for loss or damage resulting from a service line failure. A service line constitutes underground piping and wiring that is located at the residence and provides a service, such as delivering water or power to the dwelling or other structure from a utility or private water supply.

A.M. Best Upgrades Ratings of The Hartford Steam Boiler Group and Its Members to A+ (Superior) - A.M. Best Company announced on April 8, 2009 that it has upgraded the financial strength rating (FSR) to A+ (Superior) from A (Excellent) and issuer credit ratings (ICR) to “aa-” from “a” of The Hartford Steam Boiler Group (Hartford, CT) and its members (together, known as HSB Group). All ratings have been removed from under review with positive implications and assigned a stable outlook.

Munich Re concludes purchase of Hartford Steam Boiler - Munich Re announced April 1, 2009 that its acquisition of HSB Group, Inc., including Hartford Steam Boiler, and all other HSB insurance and engineering subsidiaries, was successfully completed.  HSB is now officially a part of the Munich Re family.  Our partnership with Munich Re will create new opportunities for HSB to grow our businesses in the U.S., Canada, the U.K. and around the globe.

Munich Re is a perfect fit for HSB.  HSB and Munich Re share many core values, such as commitment to sound and responsive underwriting, top-tier products, technical excellence and outstanding client service.  Our shared values will enable us to deliver greater value to clients.  The combination of HSB and Munich Re offers clients the combined capabilities, expertise and services of two market leaders, and in the future, more product offerings under one roof.

Munich Re complements HSB’s leadership in Equipment Breakdown insurance in North America.  Outside North America, Munich Re is one of the world’s largest reinsurers of machinery breakdown lines.  Sharing our expertise will further strengthen HSB’s leadership position in equipment breakdown and engineered lines insurance.  HSB will continue to offer clients unsurpassed technical underwriting capabilities, claim and inspection services and engineering expertise.

New Jersey Inspection and License Fee Changes - Effective October 6, 2008, the State of New Jersey increased their license fees for jurisdictional inspections of boilers and pressure vessels and created new inspection requirements for unfired pressure vessels. Hartford Steam Boiler inspects boilers and pressure vessels as a loss prevention service for insureds and to help them comply with jurisdictional inspection requirements.

Illinois Flood Notice - In response to the recent memorandum issued June 17, 2008 by the Illinois Division of Insurance relating to the recent flooding, The Hartford Steam Boiler Inspection and Insurance Company has advised its personnel handling policy transactions and claims in the affected areas of the requirements and has implemented the appropriate procedures to comply, including a moratorium on cancellations and non-renewals until August 18, 2008.

Miscellaneous Professional Liability Insurance - HSB’s Miscellaneous Professional Liability insurance provides coverage for suits brought by third parties alleging financial damages due to errors or omissions on the part of professional service providers.  It is offered through HSB’s insurer partners as part of their commercial insurance policies.

Data Compromise Coverage - HSB's Data Compromise coverage provides insurance and services that enable businesses to respond when personal information in their care, custody or control has been lost, stolen or inadvertently published.  HSB provides Data Compromise coverage through other insurance companies as part of their business insurance package products.

Homeowners Equipment Breakdown Coverage - Homeowners Equipment Breakdown insurance is designed to pay for physical damage due to causes of loss such as mechanical breakdown, electrical arcing, short circuits and boiler cracking that are not covered by standard Homeowner policies.  HSB offers equipment breakdown coverage for homeowners through personal lines insurers as part of their homeowner policies and as a monoline policy through agents who represent HSB.

My Policies: Policy Management System  - My Policies is HSB's online policy management system designed for agents and brokers use on monoline Equipment Breakdown business.  My Policies makes customer service faster, easier and more efficient by providing instant access to account information, policy documents, billing data and loss runs.  It also permits agents or brokers to request policy changes online in one step and track progress of their change request.  My Policies is a secure policy service tool especially suited for producers with high volume equipment breakdown portfolios and high service customers.  HSB agents or brokers may visit our Registration Center to gain access to My Policies or call HSB Customer Solutions at 1-800-HSB-1866 (1-800-472-1866) or e-mail us at customer_solution_center@HSB.com.

Hurricane Katrina Flood Recovery Alert  - The devastation that resulted from Hurricane Katrina caused extraordinarily widespread and damaging floods.  These floods in many cases disabled vital equipment and systems that affect life safety and public health.  These recommendations were prepared by Hartford Steam Boiler to assist persons in flood affected areas who own or operate equipment and machinery.

Identity Recovery Coverage - Identity recovery coverage combines identity theft insurance with services that help victims restore their credit history and identity records.  HSB’s identity recovery coverage is a turnkey reinsurance program offered through other insurance companies as an enhancement to either homeowner or businessowner policies. 

Portfolio Employment Practices Liability - Portfolio EPL is a new specialty reinsurance offering available to insurance company partners of HSB.  The program makes broad EPL coverage and related risk management services available to small and medium-sized businesses as part of their commercial insurance policy.  Because it is underwritten on a portfolio basis, premiums are less expensive than individually underwritten EPL policies.

HSB InstantQuote  - is a new service within Client Connection.  It lets HSB licensed agents and brokers quote and bind equipment breakdown coverage on-line in as little as three minutes.  Anytime day or night.

Five Easy Pieces - Equipment breakdown insurance covers many types of equipment.  Click on Five Easy Pieces, a new online tool, for a quick overview of the primary types of equipment and risks covered by equipment breakdown insurance.

HSB IQ - For an at-a-glance guide to equipment exposures for different types of businesses click HSB IQ Equipment Exposures.

Changing Equipment Risks - Equipment is changing.  So are the risks.  Click on Changing Equipment Risks to review the reasons why equipment breakdown insurance is now essential to every business.

Equipment Care  – As a service to its customers Hartford Steam Boiler offers a wide variety of loss prevention fact sheets, checklists, logs and planning tools for equipment maintenance and operation.  Previously accessible through our Fax-on-Demand service, these documents are now available on our website.  Check out Equipment Care and select the materials you need.