Equipment Breakdown Coverage
- Topics:
- Property
- Tags:
- Business Operations,
- Peripherals,
- Networking,
- Insurance,
- Hardware,
- Financial Planning,
- Finance,
- Fax,
- Corporate Insurance,
- Scanners
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Overview: This article talks about equipment breakdown coverage, which is a growing, need even for small businesses. It states that the electrical exposure, in particular, has grown dramatically in recent years as business firms have become more automated and integrated through electronic networks. Even small firms have become dependent on computer networks and other forms of electronic equipment for inventory management or to store customer account and product information, and they also rely on scanners, fax machines, card readers, and the like. This equipment is exposed to power surges, short circuits, and to general electrical disruption that can cause extensive losses. Typical BOP insureds often face this exposure just as do larger business concerns. It is important to emphasize, that standard commercial property and most multi-peril or package policies contain exclusions for electrical disturbance, mechanical breakdown, and explosion of steam boilers and piping.
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Format: PDF | Size: 455KB | Date: Jan 2003 | Pages: 2
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