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Hanover enters into real estate insurance business

The Hanover Insurance Group has introduced the Real Estate Advantage, a new insurance program that offers comprehensive specialty coverages to meet the needs of commercial real estate owners and managers.

The Real Estate Advantage is delivered to The Hanover’s agent partners through local underwriters with an understanding of the real estate industry. The program is complemented by loss control, and claims professionals who also are available locally to provide industry-specific guidance for independent agents and their commercial real estate clients.

Hanover said that the program meets the specialized needs of commercial real estate businesses by offering a broad range of coverages, including insurance protection for commercial property, general liability, commercial crime, commercial auto, commercial umbrella and workers’ compensation.

Property owners also may broaden their coverage and increase limits beyond the basic package through a broad range of endorsements and optional coverages that address specific industry risks.

David Firstenberg, president of commercial lines, said: Real estate owners and their investors place significant resources into their properties, and consequently, are always searching for new ways to protect those assets. The Hanover’s Real Estate Advantage combines customized coverages with flexible limits and strong claims services, enabling our agents to serve the commercial real estate industry.