Have you heard of this new Equipment Breakdown coverage?

BY Meagan Ouellette | July 6, 2017

All Systems Go Plus®, now with TechAdvantage®

All Systems Go Plus® from HSB BI&I is Canada’s first insurance product to combine unlimited* equipment breakdown coverage with optional Data Compromise and Identity Recovery. This product is now even broader with the addition of state-of-the-art TechAdvantage® coverages:

  1. Microelectronics coverage for non-detectable damage

Until now, equipment breakdown coverage has required evidence of physical damage. However, today’s business equipment, such as heating, cooling, and electronic equipment, contains microelectronics –miniaturized circuitry with parts so tiny, damage is virtually undetectable. TechAdvantage® adds a second cause of loss – Electronic Circuitry Impairment, for failures when physical damage is not detectable. Coverage is triggered when covered equipment suddenly stops functioning, and replacing that equipment or part containing electronic circuitry restores functionality.

  1. Off premises transportable equipment

Equipment has become more compact, portable and more frequently used off-premises, where it is exposed to greater risk of damage. All kinds of mobile equipment are at risk, from newer technology such as laptops and devices, to more conventional objects such as compressors and generators. Off-premises coverage is provided on transportable equipment for property damage, business income, extra expense and data restoration, anywhere in Canada and USA.

  1. Cloud computing service interruption

Cloud computing services have been added to service interruption coverage, paying for lost business income and extra expenses when an insured’s cloud service provider experiences an outage due to equipment breakdown.

  1. Data restoration includes data lost in the cloud due to a breakdown

We already cover data lost due to an accident at the business owner’s location. However, a business’s data stored in the cloud is also increasingly at risk. In response to this new business risk, we have added data restoration coverage for data lost when it is stored and managed by a cloud computing provider.

  1. Public relations

With social media, bad news travels fast. TechAdvantage® also includes coverage for services from reputation management professionals, such as a PR firm, when an equipment breakdown poses a risk to a business’s good standing. Coverage pays for professional public relations services to help manage a client’s reputation that is at risk when a breakdown causes business interruption.

All System Go Plus® comprehensive coverages at a glance

  • Electronic Circuitry Impairment (ECI)
  • Unlimited* Direct Damage
  • Unlimited* Business Interruption / Extra Expense
  • Unlimited* Spoilage
  • Unlimited* Service Interruption
  • Contingent Business Interruption
  • Unlimited* Expediting Expenses
  • Unlimited* By-Laws
  • Unlimited* Anchor Location
  • Unlimited* Newly Acquired Locations
  • Hazardous Substances
  • Errors and Omissions
  • Data Restoration
  • Environmental and Efficiency Upgrades
  • Green Coverage
  • Off Premises Transportable Equipment
  • Public Relations
  • Brands and Labels
  • Optional Data Compromise and Identity Recovery

For more information please contact Jill Edney, Christa Steeves, or Grant MacLeod

*There is no limit of insurance applicable to direct damage, spoilage, business interruption / extra expense or service interruption for qualified risks.

This is a summary of coverages. For all coverages, terms, conditions and exclusions, refer to the actual insurance policy.

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