 |
March 2006 |  |
 |
||
 |
 |
 |
 |
 |
 | ||||
The Insurance Professional
Don't Let Your Clients Spoil Their Business
With spoilage a primary concern, supermarkets, restaurants and other businesses focusing on food products and services are more likely to include optional Perishable Goods coverage in equipment breakdown policies. But what about other clients who have a lot at stake when equipment breaks down and materials spoil?
HOSPITALS TO HIGH-TECH
Manufacturers work with many types of vulnerable products and raw materials. High-tech operations often can't tolerate any contamination by dust or dirt, or temperature changes of even tenths of a degree. Hospitals, clinics and other health care facilities must store blood supplies, medicines and specimens with care.
HSB HAS IT COVERED
Perishable Goods coverage from HSB pays for the spoilage of food, manufactured goods or other perishables following a power surge, mechanical breakdown or other accident covered under the equipment breakdown policy. It also covers the loss of perishables due to ammonia contamination and goods damaged by a utility service interruption.
FACTS TO REMEMBER
Keep these points in mind when discussing Perishable Goods coverage:
- Perishable Goods is not just for food. A research lab's compressor seized up and refrigerated test samples became warm and tainted. In another loss, a damaged extruder caused plastic to solidify, ruining the material. Are your clients at risk?
- Perishable Goods is not just refrigeration coverage. Anything that can be spoiled by a change in conditions is considered "perishable goods."
- Perishable Goods is not just temperature coverage. The definition specifically lists humidity and pressure as conditions that may spoil property.
- HSB's Perishable Goods coverage includes loss from the breakdown of utility equipment.
