Computer Insurance
E-Trade Product
Brokers/Agents: Access via HSB Fast Track or Acturis
Comprehensive cover for commercial computer hardware, data losses, increased costs, and virus, hacking and denial of service
Broker/agent trading options
E-trade
Delegated authority/reinsurance solutions
The working landscape has changed significantly, with hybrid working now the new norm for millions of employees. But with less time now spent working in designated offices and premises, what should businesses be thinking about in terms of managing their computer equipment risks?
Whilst there is often the option to insure computer equipment under a commercial combined or property policy, these may not fully cover all computer risks.
Mathew Prentice
Cyber Product Lead - HSB
Have businesses considered these computer equipment risks?
Transit risks
Hybrid work environments
Accidental damage
Physical loss - Theft - Accidental damage
Shared office spaces - Home-based offices - Shared homes
Pets - Children - Vermin
Our Response
HSB Computer Insurance is a commercial product specifically designed to offer comprehensive cover for computer-related risks. Our policy is split into four sections, providing customers with the flexibility to choose the level of cover they need.
Four sections of cover
Section 1
Hardware
Section 2
Reinstatement of data
Section 3
Increased cost of working
Section 4
Virus, hacking and denial of service attack
'Section 1 – Hardware' is the core cover, which provides insurance for installed and portable computer equipment. Section 2, Section 3 and Section 4 are optional covers that can be selected in addition to 'Section 1 - Hardware' to enhance the level of cover.
In addition, 'Section 4 - Virus, hacking and denial of service attack' cover also automatically extends to cover Section 2 and Section 3, if these additional covers have been purchased by the customer.
Key features of HSB Computer Insurance
- Electronic office equipment can be automatically included under 'Section 1 - Hardware'. For example, photocopiers; video, audio conferencing and projection equipment; and associated software and programs.
- Extra hardware is automatically covered up to maximum £500,000, during the annual period of insurance, should the insured accidently forget to inform us.
- Following an incident, cover will pay to remove viruses and will help clients to get specialist advice to prevent future viruses or hacking.
- Full theft cover – no forcible and violent entry/exit condition.
- Low policy excesses (£150) and nil for damage caused by fire, lightning, explosion, aircraft and theft. Only £50 excess for mobile telephones and smartphones.
Delegated Authority/Reinsurance Solutions
We can also provide our partners with innovative, all-encompassing SME computer solutions. If you’re looking to provide specialist computer cover as part of your commercial proposition, contact our team.
Brokers/Agents: Access via HSB Fast Track or Acturis
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Claims Examples
Example Losses:
HSB Computer Insurance in action
Laptop damaged during a presentation
£1,900
Claim
During a presentation, an insured’s MacBook was accidentally knocked off a table. Not only was the screen damaged in the fall, it had also warped and, as a result, the computer would not enter sleep mode when the lid was closed. The laptop was deemed to be beyond repair.
Power spike affected a computer network
£38,000
Claim
The main power distribution board at a firm of solicitors suffered a power spike. The resulting failure caused considerable damage and disruption to the computer network. Data had to be restored by a specialist IT company.
Laptop stolen from a vehicle
£1,300
Claim
An employee of a manufacturing company became the victim of crime when their laptop was stolen from the boot of their vehicle.
Product Documentation
Why Choose HSB?
- Leading specialist provider of engineering and technology insurance and inspection services in the UK and Ireland
- UK-based arm of HSB Group, the equipment breakdown insurance and inspection market leader since 1866
- Part of Munich Re, a world leader in risk solutions, consistent risk management and financial stability
- Financially strong and stable – rated A++ (Superior) by A.M. Best Company
- A member of the Institute of Customer Service, demonstrating our commitment to continually improving customer service performance and professionalism
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