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HSB TechAdvantage™

Insurance for breakdown of equipment and the technology that runs it

Protecting businesses from equipment and technology failures

HSB TechAdvantage™ covers more than standard “boiler and machinery” policies. It covers losses due to equipment breakdown and electronic circuitry impairment (ECI), the often-undetectable failures in microelectronics, the technology that runs the equipment.

Equipment breakdown trends

Learn how HSB TechAdvantage can help protect your commercial clients from failures of expensive and complex equipment and the technology that it needs to operates successfully.

HSB TechAdvantage™—more than equipment breakdown insurance

HSB covers equipment accidents from risks such as power surges, short circuits, centrifugal force, boiler overheating or cracking, and commercial equipment breakdowns that are not covered under property insurance. Our always-evolving coverage is designed to address the latest equipment demands, risks, and opportunities to help our policyholders better manage their exposures and protect their assets.

Electronic Circuitry Impairment

HSB TechAdvantage™ is the one equipment breakdown policy with two covered causes of loss. It provides coverage for when equipment suddenly and accidentally breaks down, as well as electronic circuitry impairments—failures when microelectronic physical damage is not detectable or damage such as firmware corruption or software failure results in breakdown. When equipment just stops but can be fixed by replacing electronic circuitry components, that’s the tech advantage.

Silent Cyber

HSB understands cyber risk, including cyber risk to equipment. When cyber criminals attack, they can access more than data or computer code. In our increasingly connected world, they may also take control of and damage equipment that is the heart of a business enterprise. HSB believes that protecting equipment against breakdown in the 21st century must encompass protecting against damage caused by cyber attacks. HSB TechAdvantage™ Equipment Breakdown coverage does not exclude direct physical damage to equipment as a result of a cyber event.

HSB Equipment risk management services

HSB provides inspection services and engineering-based risk management in support of our partners and clients worldwide. With a staff of over 600 inspectors and engineers commissioned by the National Board of Boiler and Pressure Vessel Inspectors and the American Society of Mechanical Engineers, HSB conducts hundreds of thousands jurisdictional inspections in the US every year.

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What a loss can cost

Commercial equipment is exposed to unique risks that other property is not, such as electrical short circuits, mechanical forces, overload, and control failures. By examining loss examples, you can gain insight into why equipment breakdown insurance is so important to today’s equipment-intensive businesses.

$1,597,389

Office building

Electrical arcing destroyed three main electrical panels and left an office building without power. Temporary measures were taken to quickly restore power to tenants.

$292,513

Hospital

A turbine generator supplying power to a hospital failed when blades broke and penetrated the engine.

$90,600

Manufacturer

A faulty circuit in a water pump caused a fire tube boiler to dry fire. The boiler was severely damaged.

Why trust HSB for commercial equipment breakdown insurance

#1

Equipment Breakdown insurer

HSB is the leading provider of equipment breakdown insurance in North America.

600+

Commissioned inspectors

HSB employs over 600 commissioned and accredited inspectors and engineers.

150+

Years

HSB was one of the first to offer equipment breakdown (formerly boiler & machinery) insurance.

A++

Rated

HSB is rated Superior by A.M. Best rating, the largest credit rating agency in the world specializing in the insurance industry.

Additional commercial coverages

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Cyber

Protection from evolving commercial cyber risks

Energy

Renewable energy products and solutions

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Specialty Liability

Protection from lawsuit risks

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Service Line

Insurance to protect small businesses from underground service line breakdown

Protect commercial clients from equipment breakdown and technology risks

Today’s businesses face many risks when it comes to equipment and technology systems. With HSB TechAdvantage™ in your insurance program, you can help protect your clients from property damage and financial loss due to breakdown of commercial equipment and the technology that runs it—and get them back up and running if something happens.

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