Company Announcements

The Hanover Insurance Group Launches New Financial Institutions Offering

WORCESTER, Mass., Nov. 11, 2019 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced the launch of Hanover Financial Institutions Advantage, its new, innovative solution for financial institutions. This offering allows The Hanover's agent partners to better serve small to mid-sized asset managers and depository institutions with coordinated property, casualty, management and professional liability coverages.

The Hanover Insurance Group, Inc. Logo.  (PRNewsFoto/The Hanover Insurance Group, Inc.) (PRNewsfoto/The Hanover Insurance Group, In)

"We recognize the importance of delivering account-focused solutions, helping our agent partners to build integrated insurance programs for their financial institution clients," said Bryan J. Salvatore, president of specialty at The Hanover. "The risks facing financial institutions today are ever-changing and increasingly complex. It's more important than ever that insurance plans are coordinated across specialty and standard lines, helping provide more cohesive protection and deliver a more seamless insurance experience."

Hanover Financial Institutions Advantage comprehensive product suite helps clients protect their operations and manage financial and reputational risk. It includes specialized coverages, such as:

  • A financial institution bond to address employee dishonesty, forgery and fraudulent transfers
  • Directors and officers and entity liability coverage to protect against merger and acquisition lawsuits 
  • Cyber coverage to respond to a variety of cyberattacks, including data breaches
  • Lending and trust services liability coverage to address lawsuits arising from lending activities, including class action demands and counter actions against foreclosure and repossession matters
  • Business income and extra expense coverage to enable clients to continue operations after a loss
  • Broadened property coverage to insure ATMs on and off premises
  • Foreclosed property and trust coverage to easily address foreclosed and repossessed assets
  • Mortgage errors and omissions coverage to cover clients' mortgagee interests in properties, as well as errors or omissions
  • Professional liability coverage to address reputational risk and defend against accusations of a wrongful act

The company has built a team of skilled professionals with a wealth of experience in financial institutions. In addition, Hanover Financial Institutions Advantage offers valuable resources, services and discounts for loss prevention, including an online risk management portal, an employment practices liability risk management hotline, preferred pricing on employment screening services and more.

The Hanover's coordinated financial institutions coverages are now available in two dozen states and will be available in additional markets in early 2020. Additionally, property and casualty coverages for insurance companies are currently available countrywide. 

For more information about The Hanover's financial institutions offering and product availability, please visit hanover.com/agentsolutions/financial_institutions.

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 agents, 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:





Emily P. Trevallion   




Abby M. Clark

etrevallion@hanover.com 




abclark@hanover.com

508-855-3263      




508-855-3549

 

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SOURCE The Hanover Insurance Group, Inc.