All Systems Go Plus®
Unlimited* equipment breakdown coverage
HSB’s broadest equipment breakdown insurance, with optional Data Compromise and Identity Recovery coverage in one affordable, convenient package.
What is covered?
Microelectronics coverage for invisible risks
Traditionally, equipment breakdown coverage has required evidence of physical damage. However, today’s business equipment contains microelectronics – miniaturized circuitry with parts so tiny, damage is virtually undetectable. Such technology now drives heating and cooling systems, electronic and production equipment.
This coverage adds a second cause of loss for failures when physical damage is not detectable.
Off-premises transportable equipment coverage
Equipment has become more compact, portable and more frequently used off-premises, where it is exposed to greater risk of damage; from newer technology such as laptops and devices, to more conventional objects such as compressors and generators.
Now, off-premises coverage is provided on transportable equipment for property damage, business income, extra expense and data restoration, anywhere in Canada and USA.
Cloud service interruption
Cloud computing services have been added to service interruption coverage, paying for lost business income and extra expenses when an insured’s cloud service provider experiences an outage due to equipment breakdown.
Data restoration to include data lost in the cloud due to an accident
Our analysis of equipment breakdown claims over the years has shown growing data restoration losses, both in severity and frequency. We already cover data lost due to an accident. However, a business’s data stored in the cloud is also increasingly at risk.
In response, we have added data restoration coverage for data lost when it is stored and managed by a cloud computing service provider.
Public relations coverage
TechAdvantage® also includes coverage for services from reputation management professionals, such as a PR firm, when an equipment breakdown poses a risk to a business’s goodwill. It pays for professional public relations services to help manage a client’s reputation that is at risk when a breakdown causes a business income loss.
Unlimited* equipment breakdown coverage
|Electronic Circuitry Impairment (ECI)||Adds a second cause of loss in addition to breakdown for failures when physical damage is not detectable|
|Unlimited* Direct Damage||Pays cost to repair or replace equipment damaged by a covered breakdown or ECI|
|Unlimited* Business Interruption / Extra Expense||Pays for Income or Extra Expense loss due to an interruption resulting from a breakdown or ECI|
|Unlimited* Spoilage||Pays for spoilage of food or other perishables following a breakdown, including coverage for perishable goods damaged by service interruption|
|Unlimited* Service Interruption||Extends Income and Extra Expense to breakdown of equipment owned by a supplier contracted to supply a service listed in the policy|
|Contingent Business Interruption||Pays for lost business income and extra expenses when a supplier or customer experiences a breakdown, to $25,000|
|Unlimited* Expediting Expenses||Pays for temporary repairs, or expenses incurred to expedite permanent repairs|
|Unlimited* By-Laws||Pays for additional costs to comply with by-laws as a result of a breakdown or ECI|
|Unlimited* Anchor Location||Pays for Income or Extra Expense loss due to an interruption resulting from a breakdown at a nearby ‘anchor’ location that draws clients to an insured’s location|
|Unlimited* Newly Acquired Locations||Automatic coverage for 90 days|
|Errors and Omissions||Covers locations not described in the policy or are inadvertently omitted, to $100,000|
|Hazardous Substances||Pays for extra cost to repair or replace insured property contaminated by hazardous substances released due to a breakdown or ECI, to $100,000|
|Data Restoration||For data that is lost or damaged (including data lost or damaged in the Cloud) due to a breakdown, to $25,000|
|Environmental and Efficiency||Pays up to 150% of the loss payable for upgrades to more energy efficient or environmentally friendly equipment|
|Green Coverage||Helps restore recognized environmental standards to equipment and property, to $25,000|
|Off Premises Transportable Equipment||Covers transportable equipment for property damage, business income, extra expense and data restoration due to a breakdown or ECI, anywhere in Canada and USA, to $10,000|
|Public Relations||Pays for professional public relations services to help manage the insured’s reputation which may be at risk when a breakdown or ECI causes a business income loss, to $25,000|
|Brands and Labels||Pays for the cost of removing labels or stamping of salvaged merchandise, to $100,000|
|Data Compromise||Pays for notification expenses and case management services for individuals affected by a data breach, to $50,000 annual aggregate|
|Identity Recovery||Coverage for the insured affected by identity theft, to $15,000 annual aggregate|
|Future Loss Avoidance||Pays for the installation of protective devices to prevent such a loss from reoccurring. Provides a limit of $10,000 or 10% of the original loss, whichever is less.|
|Deductible Waived on Spares||When using a spare piece of equipment to replace a damaged piece of equipment and the spare fails, the additional deductible is waived|
|Buried Piping||Pays for repair or replacement of buried insured piping while in a duct, tunnel or runway|
|Electronic Circuitry Impairment covered for 3RD Party Losses||Coverage applies to Data, Civil Authority, Service Interruption, Anchor Location and Contingent Business Interruption|
Optional Data Compromise and Identity Recovery coverage
Optional Data Compromise
All businesses are data breach targets. With fewer protections against data breach than large companies, small to mid-sized businesses are more vulnerable and less prepared for the complexity and cost of responding. Bundled with All Systems Go Plus®, Data Compromise is affordable, covers costs of notifying those affected, and includes valuable professional help to respond promptly and properly to preserve business relationships and reputation.
Optional Identity Recovery
Complex, frustrating and timeconsuming, the process of restoring a stolen identity can take an owner’s focus off their business. Loans and other activity dependent on the owner’s credit may be put on hold, while the restoration process can cost thousands. Identity Recovery not only pays for costs related to restoring identity integrity to pre-theft status, it includes top professional services to help business owners navigate the restoration process faster, with less trouble.