Electronic Equipment Insurance Policy

This Policy offers you financial protection in case your electronic or electrical equipment suffers accidental mechanical and electrical physical loss or damage requiring repairs and/or replacement. The policy covers all types of computers, telecommunication instruments, machine for medical use etc. The policy covers all risks except those specifically excluded in the policy.

The term "Electronic Equipment" Insurance means, all electrical and electronic systems such as:

  • Electronic data processing (EDP) equipment
  • Electrical equipment for medical use
  • Communication facilities
  • Lighting and navigation facilities
  • Equipment for research and materials testing

The insurance protects:

  • The owner as the operator,
  • The lessor, or
  • The maintainer
  • The hirer
Material Damage Cover

Electronic equipment insurance is an "accident" insurance on an all risks basis covering sudden and unforeseen losses which physically affect the subject matter insured. Losses due to the following causes give rise to the vast majority of all claims:

  • Fire, lightning, explosion, failing aircraft
  • Smoke, soot, corrosive gases
  • Water and humidity
  • Failure of air conditioning
  • Short circuit and other electrical causes
  • Design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, bad workmanship
  • Faulty operation, lack of skill, gross negligence
  • Malicious acts of workmen, employees, third parties
  • Burglary
  • Hail, frost
Data Media Cover

Cover is provided for both material value of the external data media used in computing facilities and for the costs of reprocessing and restoring lost information.

The exclusions comprise mainly :

  • War or warlike operations, civil commotion of any kind as well as acts on the part of strikers and locked-out persons
  • Willful acts or willful negligence on the part of the insured or of his representatives
  • Faults or defects for which a third party (supplier) is responsible either by law or under contract (losses covered by warranty)
  • Wear and tear
  • Failure or interruption of gas, water or electricity services (certain exceptions being possible in special cases)
  • Aesthetic defects, e.g. scratches on painted, polished or varnished surfaces
  • Consequential loss and liability of all kinds (with the exception of additional expenses for computer operation)

Information required to obtain a quote:

The sum insured must always be the replacement value of the insured electronic equipment (value of the new item plus customs duties, transportation and installation charges).