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Hartford Steam Boiler offers warranty program
HARTFORD, Conn.The Hartford Steam Boiler Inspection & Insurance Co. has introduced an extended warranty program for new and used machinery.
The Select Machinery Warranty is provided by the seller and backed by HSB.
The warranty is applicable to all eligible inventory of participating new machinery manufacturers and used machinery dealers, providing extended coverage against mechanical or electrical breakdown. The warranty applies to machinery operated in North America after the seller's 30-day return privilege or a standard manufacturer's warranty expires. The program is administered and underwritten by Hartford Steam Boiler.
Production and process machinery covered under the program include computer numeric control machines, presses, injection molding, metalworking and measuring machines. The warranty is designed for machinery valued between $10,000 and $1 million.
Hartford Steam Boiler provides claims service, and works with the owner and the machinery dealer to repair damaged machines. Once the extent of a covered loss is determined, the insurer reimburses the machinery owner directly for the cost of the repair, including parts and labor.
For more information, contact Richard Williams, vp, at 860-722-5566 or by e-mail at firstname.lastname@example.org.
Program protects in-house attorneys
BALA CYNWYD, Pa.Philadelphia Insurance Cos. has begun offering Employed Lawyers Protection Plus, which is designed to protect all attorneys working as in-house counsel, their support staff and eligible independent contractors.
Protection is provided to an in-house attorney for claims arising from legal professional services including matters in which indemnification by the employer is not permitted or is withheld. Claims alleging malpractice against the in-house attorney, which often are excluded under directors and officers policies, are covered. Such claims may be brought by third parties as well as employers and shareholders.
Employed Lawyers Protection Plus is admitted in 39 states and can be provided on a nonadmitted basis in most other states. Acceptable classes include most types of privately held and nonprofit organizations, as well as publicly traded companies with less than $1 billion in market capitalization. Limits of up to $10 million are available.
For more information, go to www.phly.com/products/employedlawyers.aspx.
Chubb updates handbook on fiduciary liability risks
WARREN, N.J.Chubb Corp. has updated its Fiduciary Liability Loss Prevention handbook, which suggests step-by-step loss prevention procedures for publicly owned and privately held companies.
Research commissioned by Chubb has found that about two-thirds of private companies do not purchase fiduciary liability coverage, and 20% of these companies plan to reduce or eliminate some employee benefits this year, leaving them exposed to potential fiduciary liability lawsuits.
The handbook has been updated to reflect current fiduciary liability exposures. New sections address stock-drop litigation, blackout periods for the sale of company stock and bundled services fees.
The handbook can be found at www.chubb.com/businesses/chubb3331.html.