Your electronic processing (EDP) equipment coverage is provided on a blanket basis. Each April you must submit to MCIT an updated EDP inventory that includes all EDP equipment you want covered and the replacement cost values of the equipment. While we recognize that the COVID-19 pandemic has disrupted your operations, it is important that we maintain an updated inventory so that adequate coverage is in place in the event of a loss. Accordingly, we have extended our deadline to submit your updated inventory to May 14, 2020. E-mail your updated and itemized EDP inventory to email@example.com.
EDP equipment is defined as an arrangement of interrelating electronic components and related accessories that can accept and manipulate data into a desired format or result, but does not include data. Because MCIT considers software data, it should not be included on your EDP inventory.
Examples of EDP equipment include:
- Desktop, laptop and tablet computers
- Servers, hard drives and monitors
- Smart phones (but generally not telephone systems)
- Network-connected printers and copiers
- Electronic voting equipment
- 800 MHz/ARMER equipment
- GPS and GIS systems
Resources to Assist You
- Article about the EDP inventory requirements
- Resource about EDP coverage, its uses and requirements
- An optional EDP inventory template with the required reporting fields
Update Inventory as Needed Throughout the Year
Members are reminded that although there is a blanket limit of coverage, it is important to evaluate whether the purchase of additional (larger-value) EDP equipment during the year affects your overall coverage limit. Members can submit an updated EDP inventory as often as they want during the year.
Discuss the acquisition of large-value equipment with your MCIT risk management consultant, as the blanket limit may need to be increased.
If you have questions about updating your inventory, contact MCIT underwriting toll-free at 1.866.547.6516 or e-mail firstname.lastname@example.org.