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August 2005 |  |
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University's Loss is a Lesson in the Value of Equipment Breakdown Coverage
With So Much Equipment, So Much Can Go Wrong
Students and faculty had just returned from a holiday break when a short circuit in an electrical cable knocked out power to the campus of a graduate business university. Deteriorated insulation caused the accident, which destroyed more than 625 feet of heavy gauge wire. Portable generators provided temporary power until repairs were finished more than a week later. The loss totaled $74,320.
ELECTRICAL BREAKDOWNS
Electrical equipment is critical to university operations. The business school’s electrical system breakdown caused damage to the facility and disruption for the staff and students. Without full power, classes and activities were postponed. The loss paid by Hartford Steam Boiler included $37,113 for repairs; $35,731 to rent electrical generators; and $1,476 for spoiled food from the cafeteria, which was covered under the policy’s perishable goods coverage.
CRITICAL CONNECTIONS
Computers, data networks, telecommunications and other electrical equipment are vulnerable to power surges and short circuits. The need for so much power can strain electrical systems that often were not designed to carry the load. Exposures are high since so many power cables are buried underground and exposed to the elements.
A RANGE OF EQUIPMENT
Universities rely on many other types of equipment including heating and cooling systems that are susceptible to mechanical breakdowns. They may operate restaurants and student dormitories with exposures similar to those in commercial kitchens and apartment buildings. Costly equipment is located in libraries, stadiums, laboratories, swimming pools, medical clinics, broadcast studios, research facilities, auditoriums and theaters.
BROADER PROTECTION
HSB provides broad equipment breakdown coverage. Most companies pay only for blank media such as tapes and discs when data is lost in a breakdown. HSB can pay the cost of restoring or re-entering this critical information — a key benefit with so many computers and databases used on campus. We also include jurisdictional inspections in our basic coverage to help meet state boiler codes.
QUALITY COVERAGE
HSB covers virtually any type of equipment for repair or replacement, business interruption, extra expense, spoilage, service interruption and other exposures related to equipment breakdown. For information contact HSB or visit our web site at www.hsb.com.
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AC Lost at State U, Cable Closes Campus It takes more than classrooms to run a university. Equipment gets hard use and breakdowns can be expensive and unsettling, like these claims covered by HSB.
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