WORCESTER, Mass., Dec. 7 /PRNewswire/ -- The Hanover Insurance Group, Inc.
(NYSE: THG), a leading writer of auto, home and business insurance in
Massachusetts, is lowering insurance premiums in Massachusetts for new and
renewal motorcycle policies by 8.5 percent.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051031/NEM023LOGO )
The new rates will be effective on April 1, 2008. They are the first to be
placed on file by the Division of Insurance under the state's managed
competition system.
The rate reduction will make The Hanover's comprehensive product even more
competitive for motorcyclists.
"We are thrilled to be able to reduce rates for motorcyclists, just in
time for the spring riding season to begin. This is one more example of how
good drivers in the state can benefit from managed competition," said Vincent
Nieroda, president of The Hanover's Massachusetts personal lines group. "We
are committed to competing for business and growing in the Commonwealth,
bringing innovation and value to consumers through our independent agent
partners."
Motorcycle policies, like all of The Hanover's products, are sold
exclusively through the company's network of independent agents, enabling
customers to get the advice they need to get the most out of their insurance.
"Our goal is to deliver to our independent agent partners and their
customers the products and services that will enable them to benefit from
managed competition. As a company that successfully competes in similar
insurance environments throughout the country, we will leverage our experience
to continually make new advancements," Nieroda said.
The Hanover's motorcycle rate reduction follows the company's announcement
that it plans to offer its popular Connections(R) Auto product in the state-
pending its being placed on file by the Division of Insurance. Connections
Auto offers innovations and competitive prices not currently available to
Massachusetts automobile drivers such as diminishing deductibles, accident
forgiveness and lease/loan gap coverage. The product is also distinctive for
its ability to apply various rating factors to generate a customized and
competitive price for each individual policyholder.
*This material is provided for informational purposes only. For detailed
coverage information, please refer to The Hanover's policy language.
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 40 property and casualty insurers in the United States.
For more information, please visit www.hanover.com.
CONTACTS:
Media Relations Investor Relations
Amy Lynn BanekSujata Mutalikabanek@hanover.comsmutalik@hanover.com
(508) 855-4486 (508) 855-3457
SOURCE The Hanover Insurance Group, Inc.
Contact: Media Relations, Amy Lynn Banek, +1-508-855-4486, abanek@hanover.com; or Investor Relations, Sujata Mutalik, +1-508-855-3457, smutalik@hanover.com