Hartford Steam Boiler Enhances Environmental Benefits with New HSB Green Equipment Breakdown Coverage

Environmentally Friendly Coverage Keeps Pace with Today’s “Green Technologies”

HARTFORD, Conn.--(BUSINESS WIRE)-- The Hartford Steam Boiler Inspection and Insurance Company (HSB) has been in the forefront in providing coverage for environmental upgrades for more than 10 years. Now, HSB is taking its green coverage to the next step with HSB Green Equipment Breakdown Coverage, the company announced today.

“‘Going green’ means offering businesses, industries, schools, municipalities and other organizations a way to replace or repair damaged property or equipment with technologies that are more energy efficient and better for the environment,” said Timothy Bebout, vice president for Hartford Steam Boiler.

HSB Green Equipment Breakdown Coverage does more for customers —it not only helps make them whole in the event of equipment loss:

• It offers them the opportunity to make energy savings upgrades to their equipment and property after a covered loss.
• Covers business interruption and extra expense incurred as a result of the longer lead times for materials and labor.
• Covers recycling of damaged property or equipment.
• Addresses the changing exposures presented by today’s “green technologies.”

HSB Green Equipment Breakdown Coverage will be automatically included in all HSB Freestyle^® policies as of July 1, 2011 (pending state approvals), at no additional cost. Its enhanced coverage builds upon the environmental, safety and efficiency improvements that have been a standard part of HSB’s Freestyle^® equipment breakdown programs since 1998.

In addition to the extra 25 percent of a loss HSB pays for upgrading to more efficient and environmentally friendly equipment, HSB Green Equipment Breakdown Coverage automatically can provide up to $25,000 in addition to any applicable coverage. It also includes repairs for other damaged covered property and additional business interruption and extra expense.

Covered repairs or replacements for green-certified buildings are completed according to the standards set by third-party organizations, including the U.S. Environmental Protection Agency Energy Star^® program and U.S. Green Building Council LEED^® program.

HSB provides a range of specialty insurance coverages for business, home and farm. One of the world’s leading equipment breakdown insurers, HSB helps clients reduce risk through a unique combination of specialty coverages, engineering-based risk management strategies and loss reduction services. A.M. Best Company awarded the <org>HSB Group of companies its highest financial rating, A+ (Superior.) For more information about HSB visit its Web site at www.HSB.com.

HSB is part of Munich Re. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2010, the Group — which pursues an integrated business model consisting of insurance and reinsurance — achieved a profit of €2.4bn on premium income of around €46bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €24bn from reinsurance alone, it is one of the world’s leading reinsurers. Munich Re is a leader in understanding the risks of climate change and provides a range of innovative coverages to underwrite risks in the renewable energies sector.

This is a summary of coverages. For all coverages, terms, conditions and exclusions refer to the actual insurance policy. Coverage may not be available in all states.

HSB:Dennis Milewski, 860-722-5567
[email protected]
or
CJP Communications:Lauren Carmody203-254-1300/ Ext.106
[email protected]

Source: The Hartford Steam Boiler Inspection and Insurance Company (HSB)