The Hartford Steam Boiler Inspection and Insurance Company (HSB) is expanding the availability of HSB TechAdvantage, the first equipment breakdown insurance that covers undetectable physical damage to microelectronics, by offering policies through agents and brokers, the company announced today.

"Technology is leaping ahead with new capabilities that create entirely new forms of equipment, machines and applications for them," said Marc Saulsbury, vice president for HSB, part of Munich Re.

"Sensitive micro-circuitry makes it possible to operate powerful equipment in your business, or carry it in your briefcase. HSB TechAdvantage is the next step in the evolution of our equipment breakdown insurance to cover these new risks."

Microelectronics, devices and circuits are critical to almost all systems, equipment and technology. Yet, these technologies are prone to failures where physical damage is undetectable, as well as non-physical failures due to firmware or software corruption.

HSB TechAdvantage expands equipment breakdown and business interruption coverage beyond evidence of physical damage to circuit boards, computer chips and other micro-circuitry. The new coverage is triggered when equipment containing electronic circuitry stops working but is restored when the electronic component is replaced.

Until now, most equipment breakdown and property insurance required evidence of physical damage to cover losses, and did not adequately address today’s microelectronic risks.

HSB TechAdvantage is the most innovative equipment breakdown product HSB has ever offered, with five new coverages: microelectronics coverage; cloud computing service interruption coverage; expanded data restoration coverage; expanded off-premises coverage and public relations coverage.

Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions family since 2009, is a leading engineering and technical risk insurer providing equipment breakdown insurance products, other specialty coverages, and related inspection services and engineering consulting.