Equipment Breakdown is a Significant Exposure for Financial Institutions Due to Summer Weather
Financial Institutions have several types of mechanical and electrical equipment that are subject to failure especially during severe summer weather. We have tools and recommendations to help control breakdowns and the associated losses.
HVAC is Key to FI Office and Branch Comfort and Productivity
As spring rolls through and turns to summer, it’s always a good idea to remind your financial institution clients about reducing risk by managing their HVAC systems. One way to help manage this is the use of a service contract with an HVAC contractor or updated skills for the maintenance team that can go a long way in ensuring the comfort of their staff and patrons all summer long. A checklist is available from EnergyStar to help guide the HVAC check-up: https://www.energystar.gov/index.cfm?c=heat_cool.pr_maintenance
Protect Critical Electrical Equipment Against Summer Weather
To protect against the effects of summertime lightning storms, all electrical and computer equipment should have adequate and well maintained electrical protection installed, including proper circuit breakers and power surge devices. We have created an informative tool that provides surge protection basics your clients need to know and actions to take for the protection they need. Click here to view and download.
And check out our full library of loss control topics here.
Knowing that the Berkley FinSecure Package Policy is designed with equipment breakdown coverage embedded in the form is also good peace of mind, along with protection for all the electronic and mechanical systems that power the world of the financial institutions that you work with. To learn more about Equipment Breakdown Coverage click here and contact any one of us listed below to help you and your clients weather the summer.
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Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: https://wrbc.info/