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Hartford Steam Boiler Expands Equipment Insurance Coverage

5 April 1999

Hartford Steam Boiler Expands Equipment Insurance Coverage; HSB Freestyle Plus Pays For Lost Data And Cleaner Machines

    HARTFORD, Conn.--April 5, 1999--You've been told it will cost your business $100,000 to restore computerized sales records and production software lost because of high-voltage surges on utility power lines. Then you find out that insurance coverage will pay only a few hundred dollars to replace blank tapes and diskettes.
    It happens more often than you might think. Electronic Data Processing coverage is optional with commercial property insurance. Package policies may not protect all the electrical equipment at risk. Most "boiler and machinery" insurance, meanwhile, does not cover computers at all.

Coverage That Reflects Today's Business Needs

    Introducing HSB Freestyle Plus.(R) New for 1999, it offers expanded basic coverage that is automatic as an enhancement to HSB Freestyle(R) equipment breakdown insurance. HSB Freestyle Plus includes more exposures like sensitive electronic data and custom software. Jurisdictional boiler inspections are provided when required to comply with local and state regulations. Covered equipment that is damaged beyond repair can be replaced with equipment that is cleaner, safer and more efficient.
    "Hartford Steam Boiler's coverage continues to evolve to meet the needs of our customers," said Mark MacGougan, vice president for underwriting. "HSB Freestyle Plus provides better protection. And it recognizes that electronic data has real value to a business -- an important feature with so much of today's business assets and operations dependent upon computers."

Protecting What A Company Knows

    What makes HSB Freestyle Plus different? It will pay up to $100,000 to research, replace and restore data that is lost or corrupted due to a covered loss, including programs and operating systems. That limit is separate from the computer equipment coverage limit. Other enhanced equipment breakdown forms will not cover data restoration, paying only to replace storage media such as blank tapes or diskettes. Still others have low limits for data restoration.

Coverage On More Equipment That Customers Use

    HSB Freestyle Plus is an endorsement to HSB Freestyle, an equipment breakdown policy created to fit better with property insurance and lessen the chance of any gaps in coverage. It's the latest in a series of enhancements to basic coverage, which includes lost business income, service interruptions, perishable goods and other expenses.
    HSB provides more coverage on a broader range of equipment. Equipment such as electrical systems, diagnostic machines and telephone and voice mail systems are covered. So is a host of equipment other companies still exclude: elevators and escalators, dies, safety devices, ovens, stoves, furnaces, and many others.

Coverage Is Automatic

    HSB Freestyle Plus endorsements were being issued upon renewal in most states. Where state laws permits, the enhanced coverage applies immediately to HSB Freestyle policies, regardless of renewal dates. For more information, contact your nearest Hartford Steam Boiler representative.
    HSB Group, Inc. , the parent company of The Hartford Steam Boiler Inspection and Insurance Company, is a global provider of insurance products and engineering management consulting services. The Hartford Steam Boiler Inspection and Insurance Company was founded in 1866 to provide loss prevention service and insurance to businesses, industries and institutions. For more information about HSB, visit its web site at www.hsb.com.