WORCESTER, Mass., Nov. 17 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. (NYSE: THG), a leading provider of property and casualty insurance, today announced new capabilities to write workers compensation for small commercial businesses.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051031/NEM023LOGO )
As part of this comprehensive effort, The Hanover has introduced a new worker's compensation broadening endorsement, which will be added to all new Avenues® Workers Compensation Policies; upgraded its point-of-sale system to make it easier to quote and issue small commercial workers compensation business; formed a new underwriting company to offer even more competitive pricing for select small commercial businesses; and expanded its appetite for mono-line business.
The enhancements are part of The Hanover's continued commitment to offer its independent agent partners the most robust and competitive offering available, helping them to be more distinctive in their local markets.
"We enhanced our small commercial workers' compensation capabilities as yet another way to help our agent partners attract and round accounts to help grow their businesses," said David J. Firstenberg, president, commercial lines at The Hanover. "In addition, we will be making even more investments in our small commercial offering in the coming months to continue to help our agent partners take advantage of the emerging opportunities in this market segment."
The broadening endorsement will extend small business protection by offering:
-- voluntary workers compensation,
-- coverage for unintentional failure to disclose hazards,
-- repatriation coverage for bodily injury,
-- automatic stop gap coverage and three other coverages automatically for
no additional premium.
The Hanover's subsidiary, Allmerica Financial Benefit Insurance Company (AFB), offers agent partners more choices and more competitive pricing when placing highly desirable small workers compensation policies as part of an account or on a monoline basis.
At the same time, The Hanover continues investments in its point of sale system to help improve flow when agents place new workers compensation business, enabling them to quickly and easily quote and issue business online.
These product and system upgrades complement The Hanover's expanded underwriting appetite for small commercial workers compensation. The vast majority of businesses described in Hanover's Small Commercial Appetite Guide are eligible for workers compensation when Hanover writes the Avenues Businessowners or its Small Commercial Package product. And, The Hanover actively pursues opportunities to write workers compensation on a monoline basis for most office professionals, retailers and service establishments.
Businesses interested in this coverage should contact a Hanover agent, which can be found at www.hanover.com, by clicking on "Find an Agent." Agents interested in more detail should contact one of The Hanover's local branch offices or visit the Agent section of the company's web site at www.hanover.com.
This material is provided for informational purposes only. For detailed coverage information, please refer to the policy language of the applicable insurance company subsidiary of The Hanover.
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 30 property and casualty insurers in the United States.
CONTACTS:
Investor Relations
Oksana Lukasheva
E-mail: olukasheva@hanover.com
1-508-855-2063
Media Relations
Amy Lynn Banek
E-mail: abanek@hanover.com
1-508-855-4486
SOURCE The Hanover Insurance Group, Inc.
Contact: Investor Relations, Oksana Lukasheva, +1-508-855-2063, olukasheva@hanover.com, or Media Relations, Amy Lynn Banek, +1-508-855-4486, abanek@hanover.com, both of The Hanover Insurance Group, Inc.