The Hartford Steam Boiler Inspection and Insurance Company is one of the world’s leading specialty insurers and reinsurers. We are a global provider of:
1. equipment breakdown insurance products;
2. other specialty insurance and reinsurance products;
3. inspection services and engineering consulting.
Since our founding in 1866, Hartford Steam Boiler has had a culture that values technical expertise. Our engineering knowledge and experience enables us to understand the causes for loss. We then recommend risk management and loss prevention solutions that help our customers reduce their losses and improve their underwriting results.
Hartford Steam Boiler (HSB) is headquartered in Hartford, Conn. We serve businesses, industries and institutions worldwide.
HSB Group, Inc., the parent company of The Hartford Steam Boiler and Inspection Company, was acquired by Munich Re Group on April 1, 2009.
HSB’s technical knowledge and expertise is the key that has helped our customers avoid losses, and recover promptly from losses that do occur, for over 140 years. The Hartford Steam Boiler Inspection and Insurance Company benefits businesses and industries worldwide by providing:
1. Equipment breakdown insurance and reinsurance;
2. Other specialty insurance and reinsurance;
3. Risk management consultation;
4. Engineering and inspection services.
We provide a variety of these specialty coverages and services, directly through independent agents and brokers, or through our reinsurance arrangements with over 200 multi-line insurance companies. We work with these companies to integrate equipment breakdown insurance and other specialty insurance into their commercial packages. Our insureds range from "Main Street" types of businesses such as restaurants to larger types of operations such as manufacturing plants.
The Hartford Steam Boiler Inspection and Insurance Company was founded on June 30, 1866. Our first president considered HSB as “the first company in America devoted primarily to industrial safety.” “Hartford Standards” quickly became the specifications for boiler design, manufacture and maintenance.
Now, over 140 years later, those same values of loss prevention are at the forefront of much of the work we do. And, the company’s founding premise of dealing with “matters relative to everyday life” is still very much alive in the company’s culture.
It’s not surprising, because some very unique influences and values laid the foundation upon which The Hartford Steam Boiler Inspection and Insurance Company was founded:
Steam Power and the Industrial Revolution
During the mid-to-late nineteenth century, the Industrial Revolution sprang up in America. Boilers, used to drive industrial machinery, locomotives and steamboats, were everywhere.
Though the potential of steam power seemed infinite, controlling the power was still crudely developed. As applications for steam power became more complex, the dangers also became more acute.
With thousands of boilers in operation throughout the country, there was also widespread ignorance about the properties of steam and the causes of boiler explosions. During the 1850’s, explosions were occurring at the rate of almost one every four days. And, in 1865, the worst boiler disaster in history occurred when the Mississippi River steamer Sultana, took over 1,200 lives.
Most dismissed these incidences as “acts of god.” People who ran industrial concerns simply assumed that their boilers would explode and they would lose one or two other workers. Others, namely members of the Polytechnic Club, which included future founders of The Hartford Steam Boiler Inspection and Insurance Company, had other ideas.
Polytechnic Club Tackles Boiler Explosions
In 1857, several young Hartford businessmen who were associated with the use of steam power, formed The Polytechnic Club. Their mission was to “discuss matters of science relative to everyday life.” With steam power – and boiler explosions – becoming such a central part of everyday life, their discussions frequently turned to that subject.
This group took a practical point of view. They concluded that boiler explosions occurred because the pressure inside the boiler became greater than the ability of the boiler to withstand it. They reasoned that better materials and design – with periodic in-service inspections for weaknesses – would prevent explosions. They so believed in this view that they were willing to put money behind it.
Insurance Incentive for Boiler Inspection
The Polytechnic Club spent much time debating about an idea that combined insurance with a boiler inspection. They reasoned that inspections would increase boiler safety and the insurance would function as an incentive to inspect and a guarantee of a quality inspection. Though the insurance offered financial interests, it was secondary to safety and loss prevention – a totally new concept for an insurance offering.
Under that premise, The Hartford Steam Boiler Inspection and Insurance Company was founded in 1866.
Today that premise is applied to equipment beyond boilers. From water supply systems, to heating and cooling, to electrical power, to refrigeration, to telecommunications, we insure and provide engineering services that touch almost every aspect of work and life.
The Hartford Steam Boiler Inspection and Insurance Company offers a variety of specialty insurance and reinsurance products and services that benefit a wide range of businesses, institutions and industries worldwide:
1. Specialty Insurance, for agents, brokers and MGAs
2. Specialty Reinsurance, for property/casualty insurance companies
3. Reinsurance Integration Services
4. Inspection Services
5. Risk Management Services
6. Engineering Services
7. Claim Services
HSB is developing new, innovative products to meet our customers’ changing needs.
Hartford Steam Boiler offers its customers more than insurance. Helping our customers manage risk and prevent loss is a key value HSB brings to the table. For example, we offer risk management tools to help our insurance company partners identify loss trends to improve their underwriting results.
Our products and services are available through agents and brokers, as well as through other insurers who have reinsurance agreements with HSB.
Hartford Steam Boiler offers a range of on-line services to its agents, insurance company clients and engineering services customers. These services are aimed to make doing business with HSB easier and faster.
HSB InstantQuote is a service within HSB Client Connection. View this brief demo to preview HSB InstantQuote. It lets HSB appointed agents quote and bind equipment breakdown coverage on-line in as little as three minutes. Anytime day or night. Agents helped HSB design InstantQuote so it's fast, simple and smart. No special equipment knowledge is required. You can be up and quoting in minutes. You don't need to be an expert because it automatically recommends a broad coverage program. Yet advanced features give you the power to tailor coverage and price. And it offers the convenience to sort, filter and easily manage all your quotes. What you like about other on-line quote systems is in ours. And more.
HSB Client Connection
HSB Client Connection offers agents and client insurance companies 24 X 7 access to a secure, password-protected portion of HSB’s web site. Through HSB Client Connection, you have access to a variety of services:
1. InstantQuote for monoline equipment breakdown coverage (agents only)
2. Submit notice of a new loss
3. Submit an application for equipment breakdown coverage
4. Request a jurisdictional inspection
5. Order or print ready-to-use marketing materials
6. Submit renewals (client companies only)
My Policies: Policy Management System
My Policies is HSB's monoline Equipment Breakdown policy management system. View this brief demo to preview My Policies. My Policies helps agents' and brokers' service customers faster, easier and more efficiently by providing instant access to account information, policy documents, billing data and loss runs. It also permits agents or brokers to request policy changes online in one step and track progress of their change request. My Policies is a secure policy service tool especially suited for producers with high volume equipment breakdown portfolios and high service customers. HSB agents or brokers wishing to access My Policies may contact HSB Customer Solutions at 1-800-HSB-1866 (1-800-472-1866) or e-mail us at customer_solution_center@HSB.com.
Transformer Oil Testing
HSB's Transformer Oil Gas Analyst (TOGA®) Program helps our clients monitor the condition of your large capital investment equipment by managing their oil sampling program. The TOGA® web site enables you to schedule routine and emergency analysis through our internet-based program. The TOGA® Program provides useful engineering evaluations and recommendations on equipment maintenance follow-up.
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