Equipment Breakdown Insurance
HSB Machinery and Technology Combined
Our comprehensive product for businesses and organisations operating machinery and equipment
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We live and work in a world where technology is constantly evolving; creating new forms of machinery - which incorporate advanced microelectronic components, circuitry, and computerised control systems - and requirements for businesses and organisations to conform to applicable workplace equipment health and safety legislation.
Whilst technology brings many benefits, ever more reliance on tech is increasing the risk to businesses and organisations of equipment failure, breakdown, and non regulatory compliance.
Our response:
HSB Machinery and Technology Combined
As a leading specialist provider of engineering and technology insurance and inspection services, HSB Machinery and Technology Combined responds to the changing equipment risks, exposures, and applicable health and safety legislation by providing comprehensive equipment breakdown insurance to businesses and organisations operating machinery and equipment.
Customers also have the option to include engineering inspection services within the policy, for which we are a UKAS-accredited Inspection Body (No. 0010).
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.
Rated A++ (Superior) by
A.M. Best Company
Financially strong and stable.
Member of the Institute of
Customer Service
Demonstrating our commitment to continually improving customer service performance and professionalism.
Our comprehensive product is predominantly aimed at:
Commercial property owners
Offices, residential blocks, hotels, retail complexes
What's included?
Equipment breakdown insurance (core cover)
Equipment breakdown and damage
Provides sudden and unforeseen damage and breakdown cover for fixed manufacturing, processing and services equipment, and building services equipment:
- Cover for the failure, breaking, distortion or burning-out of any part of the machinery or equipment during its normal operation
- Includes the failure of any electronic or computer equipment that controls the machinery or equipment, even if there is no physical damage
- Operator error included as standard
- Cover for undamaged non-compatible parts included as standard
- Cover for damage whilst temporarily removed, including during transit, for the purpose of repair, service or modification
- Reinstatement of machinery or equipment as new
Deterioration of stock
- Cover for the deterioration of the stock resulting from a change in the temperature of a chamber, or caused by the action of refrigerant fumes that have escaped from the cold chamber.
- Extra cover is available for the cleaning and disinfecting of chambers; removing, disposing and replacement of deteriorated stock.
Loss of income
- Cover for financial loss as a result of equipment breakdown and damage or deterioration of stock, including increased costs of working.
- Cover also available for contractual obligations to pay direct customers and suppliers if they suffer financial loss due to an insured event.
Inspection services (optional)
| Equipment category | Legislation: UK (2) | Legislation: Ireland |
|---|---|---|
| Boiler/pressure systems | Pressure System Safety Regulations 2000 (PSSR) | S.I. No. 445 of 2012: Safety, Health and Welfare at Work (General Application) (Amendment) Regulations 2012 |
| Lifting | Lifting Operations and Lifting Equipment Regulations 1998 (LOLER) | S.I. No. 299 of 2007: Safety, Health and Welfare at Work (General Application) Regulations 2007 |
| Electrical/mechanical | Provision and Use of Work Equipment Regulations 1998 (PUWER) | S.I. No. 299 of 2007 (Regulation 30): Safety, Health and Welfare at Work (General Application) Regulations 2007 |
| Local exhaust ventilation | The Control of Substances Hazardous to Health Regulations 2002 (COSHH) | Health & Safety Authority: Local Exhaust Ventilation (LEV) Guidance document |
| Power presses and associated machinery | Provision and Use of Work Equipment Regulations 1998 (PUWER) | S.I. No. 299 of 2007: Safety, Health and Welfare at Work (General Application) Regulations 2007 |
| Fixed wiring (electrical) | Electricity at Work Regulations 1989 (EAWR) | S.I. No. 299 of 2007 (Part 3): Safety, Health and Welfare at Work (General Application) Regulations 2007 |
Trading options
Non e-trade
Supported by our customer-centric team of underwriting and business development professionals.
E-trade
Access our e-trade product via our online solutions: HSB Fast Track or Acturis; fully supported by our E-Trade Team.
Delegated authority/reinsurance
We can provide our partners with capacity, as well as innovative, all-encompassing embedded solutions. If you’re looking to provide specialist cover as part of your commercial proposition:
HSB is committed to providing a superior customer experience through our specialist claims service
HSB Machinery and Technology Combined in action
Insurance
High-precision manufacturing firm
Incident: Operator error caused spindle damage within a CNC machine.
£38,000
Claim cost
Church
Incident: A heating boiler broke down due to failure of circuits within the controls.
£7,674
Claim cost
Inspection
Manufacturer
After inheriting an overdue equipment schedule, we took full ownership. Starting with the statutory items, which were mainly passenger lifts, we mobilised a HSB Engineer Surveyor task force to focus on bringing everything 100% up-to-date; removing the compliance stress from the customer.
Insights
Typical insurable equipment by occupancy type
Examples of the many types of businesses and organisations we can support
Product documentation
Brochures: E-trade
