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WhatsApp 019-3399039 for more info.
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Electronic Equipment Insurance (EEI) is a policy designed to provide coverage for computers and other electronic
equipment and it applies whether the insured items are at work or at rest or being dismantled for the purpose of
cleaning, overhauling or of being shifted within the premises, or in the course of the aforesaid operations themselves,
or during subsequent re-erection, but in any case only after successful commissioning. The policy can also be extended
to cover the external data media such as tapes and disks.

Coverage
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The cover is essentially an “Accident” insurance policy covering losses to the insured items which are due to sudden
and unforeseen causes. The policy includes mechanical and electrical breakdown of the equipment unless such a
breakdown is indemnified under the manufacturer’s warranty or a maintenance contract.

The policy comprises 3 sections as follows:-

Section I – Material Damage (MD)
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This Section covers all hardware installation including peripheral equipment and accessories against any unforeseen and
sudden physical loss or damage from any causes other than those specifically excluded.


Basis of Sum Insured
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Sum Insured should not be less than the full new replacement value of each item, inclusive of freight, customs duties,
dues and installation cost etc.
Amount of insurance to be adjusted in the event of any material fluctuation in the level of wages or prices.


Basis of Indemnity
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 In the event of “Partial Loss” – to restore the damaged item to its former state of serviceability, including the
use of new spare parts and the cost of dismantling and re-erection, freight and customs duties provided such
costs can be provided to have been included in the sum insured (Section I, Memo 1 of the EEI policy). Deductible
to be subtracted from the indemnity.
 In the event of “Total Loss” – Under Section I, Memo 2 of the Policy, the insurers indemnify the actual value
of the insured equipment immediately prior to the occurrence of the loss or damage (an appropriate
depreciation amount being deducted from the new replacement value of the insured equipment) including
ancillary costs allowed for in the sum insured. The agreed deductible being subtracted.


Section II – External Data Media (EDM)
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This Section provides coverage for the data media such as disc, tapes external to the computer system. Coverage is the
same as Section I and it applies while the insured data media are kept on the premises


Basis of Sum Insured
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Total SI = Estimated re-recording costs + Estimated re-compiling data costs + Total New Replacement Value Costs



Section III – Increase Cost of Working (ICOW)
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This Section provides indemnity for increased cost of working following a material loss or damage. If the material
damage indemnifiable under Section I gives rise to a total or partial interruption of operation of the insured Information
Technologies (IT) equipment, the cost of hiring another computer to maintain your business operations are payable
under this Section. This substitute IT system must not be a subject matter of insurance under this policy.


Basis of Sum Insured
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Typical costs are:
 Charges for use of substitute equipment
 Charges for hiring additional rooms
 Charges for use of a service computer center
 Employment of temporary staff
 Overtime payment for inhouse personnel
 Supplementary payment for shift work, Sunday and holiday work
 Expenses for applying other procedures

This post has been edited by ahwai: May 25 2021, 02:43 PM

This section provides coverage for the hardware installation, including peripheral equipment and accessories. It covers physical loss or damage due to various causes, except those specifically excluded. The sum insured should be at least the full new replacement value of each item, including additional costs such as freight, customs duties, and installation expenses. In case of partial loss, the insurer will pay for the restoration of the damaged item to its former state of serviceability, including the use of new spare parts and associated costs like dismantling and re-erection, freight, and customs duties. A deductible may apply. In the event of a total loss, the insurer will indemnify the actual value of the equipment immediately prior to the loss, with an appropriate depreciation amount deducted from the new replacement value, along with ancillary costs and the agreed deductible.