The Hanover Significantly Enhances Its Private Company Advantage Insurance Offering

Offers innovative product suite for businesses to be protected in an increasingly volatile marketplace

May 26, 2015, 11:00 ET from The Hanover Insurance Group, Inc.

WORCESTER, Mass., May 26, 2015 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced a new, updated Private Company Advantage coverage program within its management liability portfolio to provide businesses with an enhanced product suite for privately owned companies, which is offered through The Hanover's independent agents.

"Many mid-sized business leaders think significant business exposures are issues only for large, public companies. What they don't realize is that cyber privacy and security risks, crime and employee litigation exposures exist quite often in privately held businesses," said Helen R. Savaiano, president of management liability at The Hanover. "Our new, comprehensive solution for management liability insurance helps agents better serve their private company clients, making sure they are ahead of emerging exposures in this highly complex market."

The Hanover's Private Company Advantage now offers the following enhanced coverage parts, enabling agents to customize coverages that are appropriate for their clients' needs:

  • Directors & Officers Liability – Enhancements include an expanded definition of the terms "claim" and "loss," as well as "insured vs. insured exclusion" updates.
  • Employment Practices Liability – Highlights of several new enhancements include third party coverage automatically included, independent contractors included as employees, and defense expense coverage for breach of written contracts.
  • Fiduciary Liability – Several product improvements include variable sub-limits available for Compliance Resolution, 502(c) and HIPPA civil penalties, an expanded definition of the term claim, and priority of payments language improvements.
  • Cyber Security and Privacy – A flexible cyber protection solution which includes three new first party cyber coverages and six new third party cyber coverages as well as complimentary access to The Hanover's eRisk Hub, which offers planning and prevention tools and resources for proactive risk management.
  • Crime – Crime Coverage base form now includes several new coverages as well as enhanced coverages including Premises Coverage Insuring and coverage for employees on military service. 
  • Kidnap & Ransom – New insuring agreements added, including political repatriation, hostage crisis costs and security consulting services.

Additionally, all coverage parts now include several important enhancements. Among these are: management controlled entities covered as a "subsidiary," coverage territories expanded to anywhere in the world, and claims reporting as soon as practicable but no later than 90 days after the end of the policy period.  Terms and conditions have been updated for all current coverage parts to reduce the need to track or request a multitude of commonly provided policy elements, making it easier for both businesses and agents.

The Hanover distributes its management liability products solely through independent agents, as it believes these local agents are critical to helping customers understand the complex insurance coverages for their businesses.  These enhancements to The Hanover's Private Company Advantage enable agents to help their customers stay ahead of the changing risks within management liability.

"The Hanover's products are excellent, but more importantly, the company is constantly improving their product offering as the management liability market continues to evolve," said Linda C. Zook, carrier relations director and vice president at Parker, Smith & Feek. "The company is always looking to innovate and stay ahead, and that's important because The Hanover's coverages and underwriting expertise provide our clients with products to help meet their changing needs."

To find out more about The Hanover's management liability offering, please contact your local Hanover agent and visit


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

CONTACT: Emily Trevallion Media Relations   508-855-3263

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

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SOURCE The Hanover Insurance Group, Inc.