WORCESTER, Mass., Jan. 24, 2023 /PRNewswire/ — The Hanover Insurance Group, Inc. (NYSE: THG) right this moment introduced the launch of a specialty basic legal responsibility providing. With the brand new providing, the corporate’s brokers and brokers can present an admitted basic legal responsibility and extra protection answer for hard-to-place dangers, together with manufacturing, distribution, wholesale and import companies with larger hazard product legal responsibility exposures or shoppers with loss-sensitive premises legal responsibility insurance coverage applications.
“A dynamic market has created a singular set of challenges for brokers and brokers, notably in relation to navigating protection for extra specialised accounts,” mentioned Pamela J. Dashing, president, various markets at The Hanover. “Social inflation and more and more expensive verdicts are driving hardening within the casualty market, creating restricted capability for companies with complicated merchandise publicity in the usual market. Because of this, brokers have expressed a necessity for a “center floor” answer within the casualty continuum, and that is the place our specialty basic legal responsibility answer is available in.”
The corporate’s specialty basic legal responsibility providing is backed by a staff of consultants, together with devoted underwriters with many years of expertise coping with powerful legal responsibility exposures. In the course of the danger qualification course of, these underwriters work intently with a staff of Hanover danger engineers, all with deep experience in product legal responsibility, to assist guarantee every insurance coverage program is crafted to deal with a enterprise’s distinctive dangers.
Moreover, deductibles, self-insured retentions or first-dollar program buildings can be found, and insurance policies might be issued on a stand-alone foundation or as a part of a complete account answer when coupled with different Hanover insurance policies. With this protection, the corporate’s devoted main case unit helps brokers and their prospects navigate complicated and nuanced catastrophic damage claims. Comprised of specialised professionals with experience in dealing with these claims, the staff gives a deep understanding of complicated product legal responsibility and multi-party litigation. The staff additionally works with brokers to offer the steering and instruments essential to streamline the claims course of.
The rollout of the providing was efficiently initiated in a number of states initially of final 12 months. Implementation throughout the corporate’s nationwide footprint was carried out on a rolling foundation, and accomplished within the fourth quarter. To study extra about The Hanover’s specialty basic legal responsibility providing, please go to https://www.hanover.com/agents/agent-solutions/commercial-lines/specialty-general-liability-coverage-hanover.
About The Hanover
The Hanover Insurance coverage Group, Inc. is the holding firm for a number of property and casualty insurance coverage firms, which collectively represent one of many largest insurance coverage companies in america. The corporate offers distinctive insurance coverage options via a choose group of impartial brokers and brokers. Along with its agent companions, The Hanover gives customary and specialised insurance coverage safety for small and mid-sized companies, in addition to for houses, cars, and different private objects. For extra data, please go to hanover.com.
All merchandise are underwritten by The Hanover Insurance coverage Firm or considered one of its insurance coverage firm subsidiaries or associates (“The Hanover“). Protection will not be out there in all jurisdictions and is topic to the corporate underwriting tips and the issued coverage. This materials is supplied for informational functions solely and doesn’t present any protection. For extra details about The Hanover go to our web site at www.hanover.com.
SOURCE The Hanover Insurance coverage Group, Inc.
