SOURCE The Hanover Insurance Group, Inc.
WORCESTER, Mass., June 9, 2014 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced a suite of new and innovative property coverage offerings that give independent insurance agents more flexibility to provide for the changing needs of their clients. These enhancements include the ability to customize coverages through base property broadening endorsements, plus additional optional industry-specific and specialized coverage endorsements that can further extend and enhance coverage.
"The Hanover is committed to continuing to invest in our product portfolio to ensure we're offering our agent partners and their customers innovative and differentiated solutions," said John C. Roche, president of business insurance at The Hanover. "We're confident that our new property coverage approach and offerings are among the most comprehensive in the industry. The enhancements we've made allow our agent partners to distinguish themselves from their competition and bring more value to their customers. This will help our partners win and retain more business."
The Hanover's offerings allow agents and brokers to efficiently choose the levels of coverage that best aligns with their clients' account sizes and business needs. Property broadening endorsements consist of over 65 coverages and enhancements with amendable limits, including coverages such as worldwide property off premises.
Industry-specific endorsements allow agents to further customize coverage for their clients. These cover a wide range of industries, including cultural institutions, manufacturing, and more. Specialized coverage endorsements are designed to help agents solve for more challenging exposures that are unique to respective clients. For example, the specialized coverage could be for valuation of wine stock, or restrictive zoning.
The new and enhanced property endorsements enable agents to customize coverage for their clients. These endorsements will be available on new business and renewal policies effective on or after June 15, 2014. For more information, agents and brokers can contact their local Middle Market Underwriter.
ABOUT THE HANOVER
The Hanover Insurance Group, Inc., based in Worcester, Mass., is one of the top 25 property and casualty insurers in the United States. For more than 160 years, The Hanover has provided a wide range of property and casualty products and services to businesses, individuals, and families. The Hanover distributes its products through a select group of agents and brokers. Through its international member company, Chaucer, The Hanover also underwrites business at Lloyd's of London in several major insurance and reinsurance classes, including marine, property and energy. For more information, please visit hanover.com.
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