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Engineering and technical risk insurer Hartford Steam Boiler Inspection & Insurance Co. on Wednesday said it has expanded the availability of HSB TechAdvantage, its technology and equipment breakdown insurance to most of the United States.
HSB TechAdvantage covers undetectable physical damage to microelectronics devices and circuits, which are prone to undetectable physical damage and nonphysical failures due to firmware or software corruption, Hartford Steam Boiler said in a statement.
The coverage now includes microelectronics coverage, cloud computing service interruption coverage, expanded data restoration coverage, expanded off-premises coverage and public relations coverage, according to Hartford Steam Boiler.
“Technology is leaping ahead with new capabilities that create entirely new forms of equipment, machines and applications for them,” Marc Saulsbury, Hartford, Connecticut-based vice president of Hartford Steam Boiler, said in the statement. “Sensitive microcircuitry 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.”
Hartford Financial Services Group Inc. posted a profit of $413 million for the second quarter of 2015 compared with a loss of $467 million in the second quarter of 2014.