WORCESTER, Mass., Aug. 30 /PRNewswire-FirstCall/ -- The Hanover Insurance
Group, Inc. (NYSE: THG), a leading super regional property and casualty
company, today announced a unique partnership with LoJack Corporation
(Nasdaq: LOJN), the only police-activated stolen vehicle recovery system in
the U.S. Through the alliance, the insurer will waive up to $25,000 of a
policy deductible if a piece of LoJack-fitted equipment is stolen and not
recovered. In addition, independent agents can offer construction company
clients who install LoJack on their commercial equipment discounted insurance
rates with The Hanover.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051031/NEM023LOGO )
"We are thrilled to partner with LoJack to offer discounted insurance
rates to our commercial clients," said David Firstenberg, president of The
Hanover's commercial lines business. "Given LoJack's track record, we truly
believe that encouraging policyholders to participate in this program will
help significantly reduce the risk that their equipment will be stolen and
will not be recovered. As a super regional property and casualty insurer, we
are dedicated to being there when our policyholders need us the most. This
program reinforces that commitment."
Specifically, in an effort to reduce the increasing risk of theft of this
expensive equipment, new customers or customers renewing their policies are
eligible to receive $100 savings off of their insurance policy for each of the
first 15 vehicles fitted with a LoJack stolen vehicle recovery system, which
can ultimately result in a savings up to $1,500. LoJack has enabled police to
recover more than $15 million in stolen construction equipment in 2005.
The LoJack system can be fitted to most construction vehicles and entails
the covert installation of a small radio frequency device that is tracked by
police. LoJack requires no monthly fees.
The special offer is yet another example of The Hanover's commitment to
providing its agency partners with solutions that benefit their clients, while
helping to grow their own businesses. This anti-theft program also helps
The Hanover's agent partners build deeper relationships with their commercial
clients, by reducing the risk of a theft to their "big ticket" construction
equipment.
"We are excited to partner with The Hanover to help combat the serious
problem of construction equipment theft," said Richard T. Riley, LoJack's
President and COO. "As an organization dedicated to offering the most
efficient solutions for the tracking and recovery of stolen mobile assets, we
are always looking for innovative partnerships that support our goals."
About LoJack Corporation
LoJack Corporation, the company that invented and is the proven leader in
the global stolen vehicle recovery market, leverages its superior technology,
direct connection with law enforcement and proven processes to be the leader
in tracking and recovering valuable mobile assets. The company's Stolen
Vehicle Recovery System delivers a better than 90% success rate in tracking
and recovering stolen cars and trucks and has helped recover more than $3
billion in global assets. LoJack systems are uniquely integrated into law
enforcement agencies in the United States that use LoJack's in-vehicle
tracking equipment to recover stolen assets, including cars, trucks,
commercial vehicles, construction equipment and motorcycles. Today LoJack
operates in 26 states and the District of Columbia, and in 27 countries
throughout Europe, Africa, Latin America and Asia. For more information,
please visit http://www.lojack.com
About The Hanover
The Hanover Insurance Group, Inc. (NYSE: THG), based in Worcester, Mass.,
is the holding company for a group of insurers that includes The Hanover
Insurance Company, also based in Worcester; Citizens Insurance Company of
America, headquartered in Howell, Mich., and their affiliates. The Hanover
offers a wide range of property and casualty products and services to
individuals, families and businesses through an extensive network of
independent agents, and has been meeting its obligations to its agent partners
and their customers for more than 150 years. Taken as a group, The Hanover
ranks among the top 35 of more than 950 property and casualty insurers in the
United States.
CONTACTS:
Investor Relations Media Relations
Sujata Mutalik Amy Lynn Banek
smutalik@hanover.comabanek@hanover.com
(508) 855-3457 (508) 855-4486
LoJack Corporation
Paul McMahon
(781) 251-4130
SOURCE The Hanover Insurance Group, Inc.
Contact: Investor Relations: Sujata Mutalik, +1-508-855-3457, smutalik@hanover.com, or Media Relations: Amy Lynn Banek, +1-508-855-4486, abanek@hanover.com, both of The Hanover Insurance Group, Inc.; or Paul McMahon of LoJack Corporation, +1-781-251-4130