WORCESTER, Mass., July 17 /PRNewswire-FirstCall/ -- The Hanover Insurance Group (NYSE: THG), a leading super regional property and casualty insurer, today announced the availability of a new product offering that can extend homeowners coverage to provide insurance for family members in assisted living facilities.
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The coverage is more important than ever as the population of people residing in such facilities continues to grow -- today far exceeding 1 million residents throughout more than 36,000 facilities nationwide.
Assisted living care coverage -- which can be added to new and existing Connections(R)Home policies -- is a smart option for customers who have spouses, parents or children living in assisted care facilities. Highlights include:
-- Coverage available for more than one relative; with a separate charge
for each
-- Affordable premium for each named person
-- Personal property protection up to $10,000 and includes hearing aids,
eyeglasses, false teeth and dentures, contact lenses, media alert
devices, walking aids and wheelchairs that may be lost or damaged
-- Personal liability coverage limits of $100,000 or $300,000
-- Additional living expenses coverage of $500 per month up to $6,000 if
the facility operation is suspended or it is not fit to live in as a
result of a covered loss.
The introduction of assisted living coverage kicks-off the company's "Think Hanover" program, a series of product, service and technology investments that The Hanover is making in its personal lines business in 2009. "Think Hanover" is the tangible embodiment of the company's unwavering commitment to being the best total account writer with an unrivaled sales and service experience for its partner agents.
"While our coverage is not just for seniors, we expect that the number of people who need assistance with daily living will grow significantly as the baby boomer generation ages," said Marita Zuraitis, president of The Hanover's property and casualty companies. "This unique and affordable coverage is just another tool The Hanover is offering to help our agent partners differentiate themselves in the marketplace by offering their customers valuable protection that they may have otherwise gone without."
"The investments and enhancements we plan to make in our personal lines business this year are further indications of our excellent financial position and our steadfast commitment to being the best partner for independent agents. Now, those are great reasons to 'Think Hanover,'" Zuraitis noted.
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.
CONTACTS:
Investor Relations Media Relations
John F. Reilly Amy Lynn Banek
E-mail: Jofreilly@hanover.com E-mail: abanek@hanover.com
1-508-855-3457 1-508-855-4486
SOURCE The Hanover Insurance Group, Inc.
Contact: Investor Relations, John F. Reilly, +1-508-855-3457, Jofreilly@hanover.com, or Media Relations, Amy Lynn Banek, +1-508-855-4486, abanek@hanover.com, both of The Hanover Insurance Group, Inc.