The product was codeveloped with
boiler and machinery insurance provider Mutual Boiler Re of Malvern, Pa.
It was then that steam boiler coverage was introduced under the term
boiler and machinery insurance.
Strasburg said a discussion on liability insurance will examine several topics, among them lead coverage, umbrella insurance; workers' compensation,
boiler and machinery insurance, and the difference between replacement cost and actual cash value.
Essentially,
boiler and machinery insurance is designed to reduce, through periodic inspection, the chance of malfunction among boilers and other manufacturing equipment, including pressurized, electrical, and electronic machinery.
Stone Container had a
boiler and machinery insurance policy from Hartford as well as an all-risks policy from Lloyd's.
They have to be employees of a state, county or municipal agency that has responsibility for inspecting boilers and pressure vessels or of an insurance company authorized to write
boiler and machinery insurance and that insures the boiler or pressure vessel to be inspected.
The answer lies surprisingly in the origins of
boiler and machinery insurance and in legislative developments since then.