The Hanover Helps Independent Agents Tap Into the Manufacturing Industry
WORCESTER, Mass., Aug. 5, 2011 /PRNewswire/ — The Hanover Insurance Group, Inc. (NYSE: THG), a leading provider of property and casualty insurance products nationwide, today announced that it has expanded its Hanover Specialty Industrial solution for manufacturers, wholesalers and distributors, enabling its independent agent partners to tap into the growing number of opportunities in the manufacturing industry. With the expanded solution, the company now offers access to environmental liability protection, helping to protect industrial businesses against a growing number of environmental risks.
Hanover Specialty Industrial offers a distinctive, two-pronged approach to help its agent partners solve the unique challenges faced by high-hazard industrial clients. First, it provides property coverage on an admitted basis to companies with sprinkler protection systems in place. In addition, a dedicated team within the group offers other coverages through partnerships with specialty carriers, enabling agents to meet all the unique needs of industrial customers, whether they are sprinklered or not.
Hanover Specialty Industrial also offers a broad range of liability coverages such as environmental liability and difficult products liability for companies with and without sprinklers. Hanover Specialty Industrial professionals have an average tenure of more than 20 years serving the industrial market.
“With more businesses investing in productivity improvements and innovation, there has been a revival of manufacturing companies in North America, creating an opportunity for independent agents,” said Andre Krutainis, president, Hanover Specialty Industrial. “Hanover Specialty Industrial offers its agent partners a depth of expertise and unique capabilities to provide their high-hazard industrial clients with property, general liability, products liability, pollution, and excess liability–all through a single source.”
The addition of environmental liability coverage is in direct response to the growing number of unique, environmental exposures the manufacturing segment is experiencing as it rebounds.
“A number of key coverage gaps exist in this complex market,” Krutainis said. “With more than 30 years of experience, Hanover Specialty Industrial is well positioned to help agents navigate and to succeed in this space.”
A “One Stop” Solution to Customers
Hanover Specialty Industrial offers a broad appetite that includes more than 30 classes of businesses to which they provide primary insurance coverage. These include manufacturers, wholesalers and distributors of flammable and combustible chemicals, mattresses, furniture, plastics, perfumes, cosmetics, and lotions, as well as rubber/tire products, re-cyclers, janitorial supply companies, and pesticide companies, among others.
These classes of businesses align well with the industrial risks The Hanover’s agent partners are writing in their local markets.
Timm Marini, president and principal, FieldEddy, Inc. commented, “As an independent agency deeply rooted in New England, there are many opportunities for FieldEddy to provide solutions to industrial businesses–from mills to rollercoaster manufacturers. In the past, we have had to insure these risks through a secondary market. Since we began working with Hanover Specialty Industrial last fall, the team has found solutions for several unique risks, helping us to be more competitive in this tough market.”
Agents interested in more detail should reach out to the company through one of The Hanover’s local branch offices, a Hanover Specialty Industrial representative, or the company’s web site at specialtyindustrial.hanover.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, Michigan and now Chaucer Holdings PLC, based in London, and their affiliates. The Hanover offers a wide range of property and casualty products and services to businesses, individuals, and families through a select group of agents and brokers.
The company is ranked among the top 25 property and casualty insurers in the United States and has been meeting its obligations to its agent partners and their customers for nearly 160 years. Through Chaucer, the company also underwrites business at Lloyds in all major insurance and reinsurance classes, balancing global marine, energy, non-marine and aviation with U.K. motor and nuclear. For more information, please visit www.hanover.com.
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SOURCE The Hanover Insurance Group, Inc.