Microelectronics Coverage to Address New and Emerging Technology

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HSB TechAdvantage™ Offers First-of-its-Kind Equipment Breakdown and Technology Insurance

Microelectronics Coverage to Address New and Emerging Technology

The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, today announced HSB TechAdvantage™, the first equipment breakdown and technology insurance to cover losses resulting from microelectronic failures.

“Technology has evolved, and so have the risks of breakdown,” said Marc Saulsbury, vice president of HSB. “With the proliferation of miniaturized technologies that drive virtually all commercial operations, businesses need coverage to stay ahead of today’s equipment failures. HSB is a leader in understanding technological change. Now, we are applying our technical and engineering knowledge to managing and insuring new technology in a changing world.”

Microelectronics, with circuitry thousands of times smaller than a human hair, is critical to almost all systems, equipment and technology. Yet, these technologies are prone to failures where physical damage is undetectable, as well as nonphysical failures due to firmware or software. Until now, most equipment breakdown and property insurance options in the marketplace require evidence of physical damage to cover losses, and do not adequately address today’s microelectronic risks.

HSB TechAdvantage™ expands equipment breakdown coverage beyond evidence of physical damage to circuit boards, computer chips and other microcircuitry. It helps policyholders recover from damage to systems or equipment that cannot easily be traced and recoup the costs of a microelectronic failure, including business interruption, data loss and reputational damage.

To address additional emerging technologies, HSB TechAdvantage™ includes enhancements to existing service-interruption coverage for cloud computing services and adds data restoration coverage for data lost due to a utility service interruption, such as loss of electrical power. It also offers off-premises business income and extra expense coverage for mobile equipment and technology, and new public relations coverage to help commercial entities overcome business interruption and reputational issues from equipment failures.

View this video to learn more about microelectronics in today’s equipment and how HSB TechAdvantage™ expands its technology coverage.

HSB’s microelectronics coverage, among other coverage additions and enhancements, will be available within HSB TechAdvantage™ policies in 2015 (subject to state approvals).

Note for the editorial staff:

For further questions please contact

Media Relations, HSB, Dennis Milewski
Tel.: +1 (860) 722-5567

About HSB

Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions family since 2009, is a leading engineering and technical risk insurer providing equipment breakdown insurance products, other specialty coverages, and related inspection services and engineering consulting. Founded in 1866, HSB's difference is grounded in extensive technical knowledge with over 50 percent of its staff engineers, inspectors and technical personnel around the globe. We leverage our knowledge to anticipate future risks and develop a range of specialized solutions that enable our clients to build deeper and more profitable customer relationships.  HSB holds A.M. Best Company’s highest financial rating, A++ (Superior).  www.hsb.com.

About Munich Re

In the U.S., Munich Re provides access to a full range of property and casualty reinsurance and specialty insurance products through Munich Reinsurance America, Inc., American Modern Insurance Group and Hartford Steam Boiler Group. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2012, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.2bn on premium income of around €52bn. It operates in all lines of insurance, with around 45,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the major insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2012, ERGO posted premium income of €19bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €214bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.

Hartford, Connecticut, January 22, 2015

The Hartford Steam Boiler Inspection and Insurance Company
One State Street
P.O. Box 5024
Hartford, Connecticut 06102-5024
United States

Munich Reinsurance America, Inc.
555 College Road East
Princeton, New Jersey 08543-5241
United States

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© 2019 The Hartford Steam Boiler Inspection and Insurance Company. All rights reserved. This is intended for informational purposes only and does not modify or invalidate any of the provisions, exclusions, terms or conditions of the policy and endorsements. For specific terms and conditions, please refer to the coverage form.


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