HDI machinery, business interruption and electronics insurance: for peace of mind in manufacturing

A technical malfunction or operating errors can e. g. lead to machinery breakdown as well as to physical damages to plant and equipment followed by consequential business interruption. For companies this entails considerable risk-cost, which they can insure against by taking out HDI machinery and/or electronics insurance cover. These insurance solutions offer reimbursement of costs incurred to repair existing machinery or to purchase new equipment based on policy terms and conditions. Companies can take out additionally consequential business interruption insurance cover to insure against critical production stoppage situations resulting from the breakdown of machinery, plant and/or equipment or in Germany even due to disruption of public energy supply.


Scope of services at a glance

HDI reimburses costs incurred to restore machinery, structures or plant and equipment to full operability after a physical damage event based on policy terms and conditions. A large number of perils are covered, ranging from breakdown to electrical shorts, through to negligent conduct and FLEXA perils.

HDI machinery breakdown insurance provides cover if machinery in operation or technical plant and equipment has to be repaired or replaced as a result of a physical damage due to not excluded causes. Mobile plant and construction equipment of all kinds are also insurable against unforeseen physical damage. Additional covers, such as removal of debris and recovery costs can also be covered if required up to an agreed amount

Machinery outages can bring manufacturing operations to a halt. During periods of business interruption companies suffer financial losses, which can be insured against by adding an extra insurance component. HDI machinery/business interruption insurance covers loss of profits, standing charges due to physical damages to machinery and in particular increased cost of working resulting from the accelerated or provisional restoration of operational readiness to minimise the BI loss.

HDI electronics insurance provides insurance cover for all ICT systems and electronic equipment.

Disruption of the public energy supply is more common than generally assumed. HDI provides a specific business interruption insurance solution for companies and operators in Germany to insure against the risks of electricity and gas supply disruption. Lost profits, standing charges and, where applicable, additional costs resulting from the accelerated or provisional restoration of operational readiness to minimise BI loss are reimbursed. As an option, consequential material damage to machinery, plant and equipment caused by a power supply disruption can also be insured against.


Highlights

Customer-focused engineering support

HDI underwriters include engineers with many years of professional experience in industry, providing support to clients on the wide range of engineering issues.

Insurance cover worldwide

If required HDI can organise local insurance cover via our international network.


Cross-industry Risk Consulting

HDI Risk Consulting provides a cross-industry risk engineering service to help clients identify, quantify and where necessary propose risk-reduction and risk-avoidance programs. Risk engineers assess engineering risks, based on current status of machinery and/or operational conditions of machinery, plant and equipment.

Two examples:

  • Heavy machinery is examined by non-destructive testing-methods identifying exorbitant material stress or cracks in an early stage. Potential heavy loss scenarios are identified in advance and risk-prevention action can be taken.
  • Integrated review, audit and engineering services provided to power station clients, in order to develop risk mitigation strategies.