Electronic equipment insurance protects devices that are critical to your daily operations, such as servers and IT systems, medical imaging equipment, telecommunications infrastructure, and security and automation systems. Physical damage caused by sudden and unforeseen events such as short circuit, overvoltage, operator error, dropping and theft is considered within the scope of cover.
A failure in electronic equipment rarely ends with the repair bill, as it can also lead to data loss and disruption to operations. The policy can therefore be complemented with extensions such as reconstitution of data media and increased cost of working. Insuring equipment at new replacement value with a complete schedule helps avoid underinsurance issues when a claim arises.
Who is it for?
- Companies with data centres or extensive IT infrastructure
- Hospitals, clinics and imaging centres
- Telecommunications and broadcasting companies
- Facilities relying on automation and control systems
Scope of cover
- Physical damage from short circuit, overvoltage and electrical faults
- Operator error, negligence, dropping and impact
- Fire, lightning, water damage and natural perils
- Theft cover
- Data media and reconstitution of data option
- Increased cost of working option
Scope of cover, limits and deductibles are determined by the insurer’s general and special conditions; the final scope is set out in the policy.
The Proxima Brokers approach
We review your equipment inventory, operating conditions and maintenance contracts to help set sums insured correctly at new replacement value. We assess needs such as portable devices, data loss and increased cost of working, and compare terms from different insurers. At renewal we update the inventory, and in a claim we guide you on service reports and the loss adjusting process.