HSB Engineering launches new computer policy
HSB Engineering Insurance has today launched a new computer policy which it claims can provide superior protection for the computer operations of a business, under a single policy.
The company has applied a broad definition of the term “computer equipment” allowing cover for a range of technology, from telecommunications, electronic access equipment and credit card readers to portable devices such as personal digital assistants, cameras and removable satellite navigation systems.
The firm’s UK managing director, Stephanie Watkins, believes the new policy provides the widest scope of standard cover in the UK market.
The all-risks cover includes damage, theft and breakdown; the latter without the requirement of a maintenance contract.
It also extends to viruses, hacking and denial of service attack, which are included as standard, and policyholders can claim for software or programs held on hard disks or other computer media plus the cost of reinstating data that may have been lost, damaged or corrupted.
HSB Engineering Insurance is part of the Connecticut-based HSB Group, which is in the process of being acquired by Munich Re.
Currently a subsidiary of struggling US insurance giant, American International Group (AIG), the sale of HSB Group was announced in December and forms part of a programme of disposals aimed at raising funds to repay a $150 billion bailout package provided to AIG by the US Federal Reserve.
The acquisition should be completed in the first quarter of 2009, subject to regulatory approval.
Category: Business Insurance News, Companies News, Insurance News
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