Equipment breakdown coverage keeps up to date with technology

PIM Equipment Breakdown Coverage motherboard close-up

In conjunction with Hartford Steam Boiler (HSB), Great American Insurance Company adopted HSB’s TechAdvantage™ Equipment Breakdown coverage form. With technology continuing to drive systems, equipment and operations of all businesses, trends such as miniaturization, portability and cloud computing are creating costly and complicated new risks for business owners. TechAdvantage™ provides equipment breakdown and technology coverage that helps to protect against losses caused by these technology related failures that are becoming increasingly more common.

Including all of the coverages, services and benefits associated with Great American’s traditional Equipment Breakdown product, TechAdvantage™ Equipment Breakdown and Technology Coverage provides a variety of coverages designed to address modern equipment risks, including:

  • Microelectronic Coverage: Coverage for when physical damage is not detectable or fails when firmware is replaced.
  • Cloud Computing Service Interruption: Coverage that provides relief during a cloud service interruption, and when critical data is lost due to an equipment breakdown accident.
  • Service Interruption Data Restoration: Coverage for data lost at the insured location or in the custody of the insured’s cloud computing service provider when there is a covered service interruption.
  • Off Premises Business Income, Extra Expense and Data Restoration Coverage: Extends payment for off-premises equipment breakdown, in addition to physical damage.
  • Public Relations Coverage: Pays for costs of professional public relations assistance to help manage a reputation that may be damaged by an interruption of business.

This coverage is available pending state approvals. Contact your Business Developer to learn more about TechAdvantage™ Equipment Breakdown Coverage, or download more information below.

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