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General Property Insurance for Equipment

General Property Insurance for Equipment. About Protecsure. Underwriting agency formed in 1990  Specialised General Property Insurance Policy for equipment  Underwritten by Chubb Insurance for 12 years 

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General Property Insurance for Equipment

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  1. General Property Insurance for Equipment

  2. About Protecsure Underwriting agency formed in 1990  Specialised General Property Insurance Policy for equipment  Underwritten by Chubb Insurance for 12 years  Each year we insure tens of thousands of items and deal with over 2,000 claims

  3. A Sample of What We Insure…. • Portable Equipment • Information Technology • Medical and Veterinarian • Photographic • Survey • Diagnostic and Measurement • Musical Instruments • Sporting Equipment • Tools of Trade • Light Machinery • Miscellaneous • Non-Portable Equipment • Computers • Telecommunications • Other Office Equipment • Medical We insure mostly portable equipment as this is often not well catered for by home and business pack policies

  4. New Equipment Types • Sports • Athletics • Bikes • Cricket • Equestrian • Football • Golf • Gym • Hockey • Kayaks/canoes • Ski & surf

  5. New Equipment Types • Sports • Athletics • Bikes • Cricket • Equestrian • Football • Golf • Gym • Hockey • Kayaks/canoes • Ski & surf • Diagnostic & Measuring • Monitors • Probes • Sensors • Etc

  6. Miscellaneous…. • Miscellaneous Equipment • Prosthetic leg • Home made electronic bird scarer • Night sight goggles • Mobile boxing ring • Jumping castles • Remote controlled helicopter for checking power cables • Laser clay pigeon shooting system • Segway • Basketball simulator machine • Portable luxury bathrooms

  7. And last but not least…. • 5 Mermaid tails worth $85k

  8. Policy Features “Our policy offers broader coverage than most business and home policies” * For all equipment other than tools of trade and sporting equipment

  9. Summary of Cover Exclusions • Wear and tear or cosmetic damage • Theft out of vehicle if unlocked • Electronic breakdown (available as extension) • Consequential loss of any kind • Software (replaced by vendor)

  10. Policy Extensions • Electronic Breakdown • If not covered under warranty • Data Restoration Following Breakdown • Sub Limit Required • Temporary Hire Following Breakdown • While equipment is being repaired/replaced • Sub Limit required • Auto Additions (Schedules over $100,000) • Up to 10% of the sum insured for equipment purchased throughout the year

  11. Equipment-specific Exclusions • Tool of Trade & Sports Equipment • Theft without forcible and violent entry • Damage whilst in use • As a result of loss of tools of trade

  12. Schemes • Medical equipment • Ultrasounds • Doctors bags • Imaging equipment • Ophthalmologists • Insulin pumps • Vets • Scuba • Laptops/iPads • Real estate • Fitness instructors • Equestrian • Jockeys • Events • Clubs

  13. New Developments • Working on a simple liability product • Add to equipment quotes • Entry level, competitive price • Sole traders, consultants, tradies etc • About to launch new wording • Different equipment types • No need for T.o.T. endorsement • Data recovery • $50 for 3 years cover (one claim per policy period) • Laptops, cameras, USB, storage devices

  14. Claims Processing • Claims are handled by Protecsure • One page claim form • Over 95% of valid claims will be approved within 48 hours • Settled via repair or replacement (new for old) • Claimants directed back to the original place of purchase for a quote to repair or replace 1300 MYCLAIM for queries or claims lodgement

  15. Thank You Thank you for viewing this presentation. We hope you will consider us for your equipment insurance needs.

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