WORCESTER, Mass., Jan. 24,
2023 /PRNewswire/ -- The Hanover Insurance
Group, Inc. (NYSE: THG) today announced the launch of a
specialty general liability offering. With the new offering, the
company's agents and brokers can provide an admitted general
liability and excess coverage solution for hard-to-place risks,
including manufacturing, distribution, wholesale and import
businesses with higher hazard product liability exposures or
clients with loss-sensitive premises liability insurance
programs.
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"A dynamic market has created a unique set of challenges for
agents and brokers, particularly when it comes to navigating
coverage for more specialized accounts," said Pamela J. Rushing, president, alternative
markets at The Hanover. "Social
inflation and increasingly costly verdicts are driving hardening in
the casualty market, creating limited capacity for businesses with
complex products exposure in the standard market. As a result,
agents have expressed a need for a "middle ground" solution in the
casualty continuum, and that's where our specialty general
liability solution comes in."
The company's specialty general liability offering is backed by
a team of experts, including dedicated underwriters with decades of
experience dealing with tough liability exposures. During the risk
qualification process, these underwriters work closely with a team
of Hanover risk engineers, all
with deep expertise in product liability, to help ensure each
insurance program is crafted to address a business's unique
risks.
Additionally, deductibles, self-insured retentions or
first-dollar program structures are available, and policies can be
issued on a stand-alone basis or as part of a total account
solution when coupled with other Hanover policies. With this coverage, the
company's dedicated major case unit helps agents and their
customers navigate complex and nuanced catastrophic injury claims.
Comprised of specialized professionals with expertise in handling
these claims, the team offers a deep understanding of complex
product liability and multi-party litigation. The team also works
with agents to provide the guidance and tools necessary to
streamline the claims process.
The rollout of the offering was successfully initiated in
several states at the beginning of last year. Implementation
across the company's national footprint was done on a rolling
basis, and completed in the fourth quarter. To learn more about The
Hanover's specialty general
liability offering, please visit
https://www.hanover.com/agents/agent-solutions/commercial-lines/specialty-general-liability-coverage-hanover.
About The Hanover
The Hanover Insurance Group, Inc. is the holding company for
several property and casualty insurance companies, which together
constitute one of the largest insurance businesses in the United States. The company provides
exceptional insurance solutions through a select group of
independent agents and brokers. Together with its agent partners,
The Hanover offers standard and
specialized insurance protection for small and mid-sized
businesses, as well as for homes, automobiles, and other personal
items. For more information, please visit hanover.com.
CONTACTS:
|
|
Abby M. Clark
|
Emily P.
Trevallion
|
abclark@hanover.com
|
etrevallion@hanover.com
|
508-855-3549
|
508-855-3263
|
All products are underwritten by The Hanover Insurance
Company or one of its insurance company subsidiaries or affiliates
("The Hanover"). Coverage may not
be available in all jurisdictions and is subject to the company
underwriting guidelines and the issued policy. This material is
provided for informational purposes only and does not provide any
coverage. For more information about The Hanover visit our website at
www.hanover.com.
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SOURCE The Hanover Insurance Group, Inc.