Electronic Equipment Insurance (EEI)

“Electronic equipment” refers to all electrical and electronic systems such as:

• Electronic data processing (EDP) equipment

• Electrical equipment for medical use

• Communication facilities

• Lighting and navigation facilities

• Equipment for research and materials testing.

This insurance protects not only the owner but the operator, lessor, maintenance contractor and hirer of electronic equipment.

In Vietnam, this is commonly used for television, transportation, airport equipment’s…

According to Munich Re’s booklet Technical Insurance References, Electronic equipment insurance is an “accident” insurance on an all risks basis covering sudden and unforeseen losses which physically affect the subject matter insured. Losses due to the following causes give rise to the vast majority of all claims:

• Fire, lightning, explosion, failing aircraft
• Smoke, soot, corrosive gases
• Water and humidity
• Failure of air conditioning
• Short circuit and other electrical causes
• Design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, bad workmanship
• Faulty operation, lack of skill, gross negligence
• Malicious acts of workmen, employees, third parties
• Burglary
• Hail, frost.

• War or warlike operations, civil commotion
• Willful acts or willful negligence
• Faults or defects for which a third party (supplier) is responsible either by law or under contract (losses covered by warranty)
• Wear and tear
• Aesthetic defects, e.g. scratches on painted, polished or varnished surfaces
• Consequential loss and liability of all kinds (with the exception of additional expenses for computer operation).