Hanover Insurance Group, a provider of property and casualty insurance, has unveiled a new suite of management liability solutions that includes a newly launched capability to protect private companies against a growing number of financial exposures.
The company has launched a Private Company Advantage to provide private companies with protection against a multitude of exposures and costly litigation. The coverage is part of its professional portfolio that includes professional and management liability products.
According to Hanover Insurance, the private company advantage provides coverages with an array of options and limits to help independent agents customize a program for small and mid-sized clients. The coverages include protection for directors, officers and corporate liability; employment practices liability; fiduciary liability; commercial crime; and kidnapping, ransom and extortion.
In addition, the coverage enhancements include excess limit for executives and security derivative demand investigative costs. Third-party liability; wage and hour sub-limit; illegal alien investigation sub-limit; privacy coverage and waiver of deductible if no liability ruling is obtained are also available.
Andrew Robinson, executive leadership team member of Hanover Professional Portfolio, said: With the launch of our private company management liability solution, we now have a market leading management liability product that we can provide to our independent agents to further grow their businesses and serve the needs of their customers.
The significant enhancements we have made help us to deliver an unmatched total solution for our agent partners and their clients. Every day, we are looking for new ways to strengthen our value proposition with new services and technologies, such as the recently launched, advanced point-of-sale system for our Employment Practices Liability Advantage.