HARTFORD, Conn., Nov. 3 /PRNewswire-FirstCall/ -- As CAT scans, lithotripters and magnetic resonance imagers (MRIs) fast become the diagnostic and treatment tools of choice for a variety of health issues, The Hartford Financial Services Group, Inc. now offers a tailored insurance package to address the specific coverage needs of owners of this high-end medical diagnostic equipment.
The Hartford’s medical diagnostic equipment coverage is offered as a stand-alone policy and is designed to address the specific exposures facing equipment owners who lease their machines to other healthcare providers -- whether it be to doctors’ offices, clinics or other testing facilities.
“Twenty years ago there were only a handful of MRIs operating in the U.S., but today there are thousands. As more and more doctors and their patients rely on these and other high-end machines for diagnosis and treatment, we’ve designed this coverage to address these specific exposures more broadly than what has been available previously,” said Scott Shapiro, vice president of commercial marine insurance at The Hartford.
The Hartford’s medical diagnostic equipment insurance offers broad protection in a single policy. In addition to coverage for mechanical breakdown and all-risk protection for equipment, key features include:
Business extra expense/expedited expense coverage, which covers loss of income and extra expenses incurred while equipment is being repaired or replaced.
Automatic coverage for computer equipment losses caused by physical damage or site control systems. Also available is the option to increase the replacement cost coverage in order to purchase upgraded equipment, as well as coverage for training costs associated with learning to use the newer equipment.
Additional coverage for media and data, which covers expenses associated with recreating lost data or repeating diagnostic procedures due to damaged computer equipment.
“With this type of medical diagnostic equipment ranging in value from several hundred thousand to several million dollars, this coverage is designed to provide peace of mind for equipment owners,” said Shapiro.
Coverages are individually underwritten and may differ in availability by state. Terms and conditions of coverage are governed by the insurance policy. More information regarding The Hartford’s marine coverages is available at http://www.mb.thehartford.com/ or by accessing The Hartford’s Electronic Business Center (EBC) for agents.
The Hartford is one of the nation’s largest financial services and insurance companies, with 2003 revenues of $18.7 billion. The company is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property-casualty insurance. The Hartford’s Internet address is http://www.thehartford.com/.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2003 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
The Hartford Financial Services Group, Inc.
CONTACT: Pamela Rekow, +1-860-547-8990, pamela.rekow@thehartford.com; orSue Honeyman, +1-860-547-4976, shoneyman@thehartford.com, both of TheHartford
Web site: http://www.thehartford.com/