HSB Specialty Insurance Company(Connecticut); Contacts, Claims, Services, Reviews, Benefits

Specialized insurance is essential for protecting individuals and businesses from specific risks that regular insurance policies might not address. This piece will delve into the realm of HSB Specialty Insurance Company, investigating its background, offered services, premium expenses, and beyond.

In 2012, HSB Specialty Insurance Company came into existence as a fully-owned part of Hartford Steam Boiler Inspection and Insurance Company (HSB). HSB is a major player in equipment breakdown and specialty insurance and reinsurance. Their goal was to give HSB’s customers more options and coverage.

Services

1. Engineering and Inspection

HSB provides comprehensive engineering and inspection services to help customers identify and mitigate risks. This includes inspections for boilers, machinery, electrical safety, and environmental risk assessments.

2. Claims

Our dedicated team of experienced claims professionals is committed to assisting customers in recovering from losses. We’ve designed an efficient and fair claims process to get our customers back on their feet as quickly as possible.

3. Risk Management

HSB offers a range of risk management services to help customers identify, assess, and manage risks. This encompasses risk assessments, loss control consulting, and safety training.

Products

1. Equipment Breakdown Insurance

Protect your business from unexpected losses due to equipment failure. HSB’s equipment breakdown insurance covers damage to equipment such as boilers, machinery, and electrical equipment.

2. Cyber Insurance

Safeguard your business from cyber threats, including data breaches, ransomware attacks, and business interruption. HSB’s cyber insurance helps protect your data and reputation in the event of a cyber attack.

3. Professional Liability Insurance

Mitigate losses resulting from professional negligence, including errors and omissions and wrongful termination claims. HSB’s professional liability insurance shields businesses from financial losses due to lawsuits filed by clients or employees.

4. Employment Practices Liability Insurance

Protect your business from employment-related claims like discrimination, harassment, and wrongful termination. HSB’s employment practices liability insurance helps guard against financial losses from lawsuits filed by current or former employees.

5. Miscellaneous Professional Liability Insurance

Covering various professions such as architects, engineers, and accountants, HSB’s miscellaneous professional liability insurance protects businesses from financial losses due to lawsuits filed by clients.

Reinsurance Products

HSB Specialty Insurance Company also provides various reinsurance products, including equipment breakdown reinsurance, cyber reinsurance, professional liability reinsurance, and employment practices liability reinsurance.

Premium Costs

Premium costs with HSB Specialty Insurance Company are determined by the type of insurance, the business’s size, scope, and industry. The company provides flexibility with monthly, quarterly, and annual payment options. Let’s take a look at sample premium costs:

Discounts and Promotional Offers

HSB Specialty Insurance Company provides various discounts and promotions to make insurance more accessible:

• New Customer Discount: Enjoy a 10% discount if you’re a new customer.
• Bundling Discount: Combine multiple policies and receive a 5% discount.
• Annual Payment Discount: Pay annually and get a 2% discount.

Payment Options

HSB Specialty Insurance Company understands the importance of flexibility in payment. Choose from the following options:

• Monthly: Pay your premiums every month.
• Quarterly: Opt for quarterly payments.
• Annual: Pay your premiums annually for added convenience.

With HSB Specialty Insurance Company, you not only get tailored coverage but also the flexibility to manage your payments in a way that suits your business best.

Filing a claim with HSB Specialty Insurance Company is easy. Here’s a simple guide:

1. Report the Claim:
   • Act promptly by reporting the claim online on HSB’s website or by calling the claims hotline at 1-800-472-1866.
2. Provide Information:
   • Furnish HSB with the necessary details, including your policy number, date and time of the loss, a description of the loss, the cause, and contact information for any witnesses.
3. Cooperate with Investigation:
   • If assigned a claims adjuster, cooperate by providing requested information and documentation for the investigation.
4. Estimates for Repairs:
   • HSB may ask for estimates for repairing or replacing damaged property. Be prepared to provide this information.
5. Review and Accept Settlement Offer:
   • Once the investigation is complete, HSB will present a settlement offer. Review it and accept it to receive your payment.

HSB Specialty Insurance Company aims for a fair and speedy claims process, striving to assist customers in recovering from losses quickly. Your cooperation and timely reporting play a key role in this efficient process.

Cancellation Process

To cancel your policy with HSB Specialty Insurance Company, follow these steps:

1. Submit a Written Request:
   • Send a written cancellation request to the company, including your policy number and the desired cancellation date.
2. Refund Policy:
   • If you cancel before the term ends, HSB Specialty will refund the unearned portion of your premium. This is the part you’ve paid for the period after the cancellation date.
3. Cancellation Fee:
   • Check your policy contract for details on any associated cancellation fees.

Renewal Process

HSB Specialty Insurance Company handles policy renewals as follows:

1. Automatic Renewal:
   • Unless you cancel, your policy will automatically renew. You’ll receive a renewal notice before the term ends, including the new premium.
2. Accept or Decline:
   • Decide whether to accept or decline the renewal offer.
3. Acceptance:
   • If you accept, no further action is needed; your policy will automatically renew at the new premium.
4. Declining Renewal:
   • If you decline, submit a written cancellation request with your policy number and desired cancellation date.

HSB Specialty stands strong with the backing of its parent company, Hartford Steam Boiler Inspection and Insurance Company (HSB), in business for over 150 years. With an A++ (Superior) rating from A.M. Best, HSB Specialty ensures financial strength to meet policyholder obligations, even during major catastrophes.

Expertise in Specialty Insurance

Count on the expertise of HSB Specialty’s professionals who specialize in crafting insurance solutions. Their experience ensures tailored products that precisely meet the unique needs of customers.

Comprehensive Product Offerings

Global Reach

With offices in the United States, Canada, and the United Kingdom, HSB Specialty has a global presence. This allows them to extend coverage to businesses operating on an international scale.

Additional Benefits of Joining HSB Specialty

Risk Management Services

HSB Specialty goes beyond insurance by offering risk management services. These services help businesses identify, assess, and manage risks, reducing the chances of losses and safeguarding the bottom line.

Claims Handling

Should the unexpected occur, HSB Specialty’s team of experienced claims professionals is dedicated to helping customers recover fairly. The goal is to get businesses back on their feet as quickly as possible.

Customer Service

HSB Specialty is committed to excellent customer service. Their team of professionals is always ready to answer questions and provide assistance whenever needed. Joining HSB Specialty means being taken care of by a team that their customer’s needs first.

Let’s talk about who HSB works with, We want to be clear, so if you’re curious about our friends and partnerships, we will clear it all up.

Talking about keeping customers happy, HSB cares about making customers super satisfied and going above what they expect. If you have any questions about that, we’ve got you covered!

HSB Specialty Insurance Company is a creative insurance giver for special situations. As we look at its long history and how it sets clear prices and handles claims well, HSB takes care of different customer needs.

When you team up with HSB Specialty, you not only get great coverage but also the promise of a very good service and making sure you’re happy.