Abstract: An inductor assembly is disclosed for protecting electronic circuitry in a downhole equipment string. The inductor assembly includes a plurality of modular inductors coupled to one another in series to provide the desired inductance. The modular inductors are supported by a support structure in a protective housing, such as in a common housing with the electronic circuitry. The inductor assembly is electrically isolated from the housing. The support structure may include insulative end members and rail members extending between the end members to which the inductors are secured. One or more insulative covers are provided around the inductors to further isolate the inductors from the housing. The inductor assembly dissipates energy in the event of certain failure modes of power supply circuitry or lines extending from the earth's surface. The inductor may be secured electrically between a neutral node in a Y-wound motor to prevent high voltage ac waveforms from damaging the electronic circuitry.