Founded in 1875 as The Boiler Inspection and Insurance Company of Canada (BI&I), HSB BI&I is a Canadian leader in residential and commercial equipment breakdown insurance, as well as a trusted source of reinsurance to over 50 P&C companies who want to cede some of their financial liability.
BI&I is a subsidiary of The Hartford Steam Boiler Inspection and Insurance Company (HSB)—founded in 1866, and part of The Munich Reinsurance Group—and both companies, along with many others, were established to combat the high number of boiler explosions following the Industrial Revolution in North America.
As part of the Munich Reinsurance Company, or Munich Re Group, HSB BI&I has the backing of one of the most experienced and stable insurance and reinsurance companies in the world.
Customers turn to HSB BI&I when they need:
- A company that seems well-versed in technical solutions and monitoring
- A commitment to a quick and fair claims resolution process
- A company with digital resources for nearly every coverage option
Unlike many companies that we partner with, HSB BI&I doesn’t offer personal plans, group plans or anything outside of the very broad category called equipment breakdown. This can refer to anything ranging from home appliances such as ovens and washing machines to office equipment like commercial copiers, all the way up to industrial equipment such as ventilation units and machines.
As is the case with many larger insurance providers, HSB BI&I relies on brokers like us across Ontario and beyond to provide access to their products to customers.
Advantages of HSB BI&I Insurance
Commercial and residential customers who use the company’s policies have come to enjoy the following advantages of HSB BI&I’s risk protection:
- The company has great peer reviews: Because they also deal with reinsurance policies for other companies, HSB BI&I has built a great reputation among other large insurers as a stable company. Their affiliation with Munich Re lends credence to this, as does the company being rated as a superior (A++) insurer by the insurance ratings company A.M. Best.
- A whole arsenal of digital resources and handy policy management tools: For example, homeowners that have a home equipment breakdown policy for their home have access to MyHomeWorks, a digital interface that combines resources, information about commonly covered home systems, a claims system and more, all from the palm of their hand.
- The ability to work with a company committed to technical expertise: HSB BI&I boasts the fact that over 50% of their employees come from technical backgrounds. This means that by letting the company cover the equipment at their home or business, customers are also getting the industry expertise that extends the lifespan of the equipment in question.
HSB BI&I Insurance Products
HSB BI&I specializes in various levels of Equipment Breakdown insurance for homes and businesses.
- CyberOne – intended for businesses in the Information Technology sector, CyberOne policies protect companies’ data.
- All Systems Go Plus – This plan offers cyber protection, business interruption insurance and professional liability protection for businesses transporting microelectronics, off-premises equipment, PR firms and cloud computing firms.
- Course of Construction Equipment Breakdown – A policy for owners, renters and leasers of real estate, this policy protects breakdown of household equipment such as air condition, electrical systems, cooling systems, heat and hot water and more in the home.
- Equipment Breakdown Rider – This rider is available for any customer with a home or business policy, and covers additional appliances, such as computers, printers, copiers, ovens & stoves, and boilers, hot water equipment and transformers not covered by any other plan.
- Data Compromise – Data Compromise is a coverage option for small-to-mid-sized businesses as risk protection against data breaches.
- TechAdvantage – Another IT protection insurance, TechAdvantage protects businesses and public institutions in the event of a data breach.
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Commercial Insurance Quotes
At Mitchell & Whale we have the experts to assess your business risks, and the insurance partners to get you the best coverage. Speak with a broker today: 1-800-731-2228
390 Bay Street, Suite 2000, Toronto, Ontario M5H 2Y2, Canada
Claims: (416) 363-5491
HSB BI&I Reviews
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