WORCESTER, Mass., July 14, 2015 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced the launch of a new Fidelity & Crime Advantage coverage program offered within its management liability portfolio. The coverage provides businesses with an enhanced product suite to help protect their employees and companies.
"Businesses today are increasingly susceptible to fraud in this high tech environment, and in particular to fraud committed by corrupt employees or employees who are manipulated by others," said Jeffrey L. Gordon, vice president of fidelity and crime at The Hanover. "Our new, comprehensive solution for fidelity and crime insurance helps our independent agents protect their business clients from financial losses due to fraud involving their employees and others."
The Hanover's Fidelity & Crime Advantage enables independent agents to build customized insurance programs that best serve their clients' needs. Among the new enhancements that the program provides are:
- A premises coverage insurance agreement that combines theft and robbery/safe burglary inside insureds' premises
- Coverage for employees while on military services
- Notice/proof of loss up to 180 days after discovery
- A prior dishonesty threshold of $25,000
- Benefit plan limits that are adjusted to ERISA requirements to protect employee benefit plan assets from acts of fraud or dishonesty by individuals responsible for managing the plans.
Additionally, the company's proprietary crime policy form now includes several important coverages that help simplify the new business process for agents, while better protecting their clients with broader, more flexible coverage options. These coverages may include: client's property, personal accounts, computer and ID fraud, as well as claim and data restoration investigative expenses. Policy terms and conditions have been improved for our latest commercial crime coverage offering making it more user friendly for both businesses and agents.
The Hanover's Fidelity & Crime Advantage can be offered as a monoline policy or as part of the management liability package, providing options to make it easier for businesses to protect their interests. These enhancements to The Hanover's Fidelity & Crime Advantage enable agents to help protect their business customers against the changing risks coming from fidelity and crime.
The Hanover distributes its fidelity and crime products solely through independent insurance agents. These local agents help their customers understand the complex insurance coverages and select the insurance protection that best fits the needs of their businesses.
To find out more about The Hanover's fidelity and crime offering, please contact your local Hanover agent and visit hanover.com.
ABOUT THE HANOVER The Hanover Insurance Group, Inc., based in Worcester, Mass., is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. For more than 160 years, The Hanover has provided a wide range of property and casualty products and services to individuals, families, and businesses. The Hanover distributes its products through a select group of independent agents and brokers. Together with its agents, the company offers specialized coverages for small and mid-sized businesses, as well as insurance protection for homes, automobiles, and other personal items. Through its international member company, Chaucer, The Hanover also underwrites business at Lloyd's of London in several major insurance and reinsurance classes, including marine, property and energy. For more information, please visit hanover.com.
CONTACT: Michael F. Buckley firstname.lastname@example.org 508-855-3099
All products are underwritten by The Hanover Insurance Company or one of its insurance company subsidiaries or affiliates ("The Hanover"). Coverage may not be available in all jurisdictions and is subject to the company underwriting guidelines and the issued policy. This material is provided for informational purposes only and does not provide any coverage. For more information about The Hanover visit our website at www.hanover.com.
SOURCE The Hanover Insurance Group, Inc.