Leading engineering specialist insurer HSB Engineering Insurance Limited has launched an equipment breakdown product which addresses the green issues faced by businesses, helping them reduce their carbon footprint and gain energy efficiency savings.
In the event of a failure, HSB’s policy will contribute towards the additional costs of replacement equipment that is more efficient and better for the environment.
The enhanced policy covers the spectrum of machinery from standard items such as boilers, lifts, air-conditioning and other electrical and mechanical building services systems to highly-specialised equipment for printing and manufacturing. The policy is available on an itemised or blanket basis and also includes cover for temporary plant hired in following a loss and emergency services call out costs.
UK chief executive officer and managing director Stephanie Watkins said: “The proliferation of new technology and sensitive high-tech equipment means that all kinds of businesses are becoming increasingly reliant on technology. This means breakdowns are a big risk for business in the 21st Century. HSB has designed a product that, not only provides breakdown cover, but responds to the increasing demand for greener and more efficient equipment.”
She continues: “Currently the take-up of equipment breakdown insurance is relatively low in the UK and is often purchased on an itemised basis. Blanket cover can completely protect businesses as they become more and more reliant on technology and, because excesses are slightly higher, it is also very cost effective.”
