From sunglass stores to pet daycare, doctors’ offices to hair salons, The Hanover Insurance Group is adding 96 new classes to the its Avenues Business Owner’s Policy (BOP) in an effort to meet the needs of a growing number of small commercial clients.
This is the second time this year that The Hanover has expanded the number of BOP classes it offers, bringing its total of broadly defined BOP classes to more than 460, covering the equivalent of more than 1,000 industry classes.
The additional classes span a broad range of small commercial programs including: office (e.g., mortgage brokers and a wide range of doctors’ offices); retail (e.g., sunglass stores and framing shops); service (e.g., ink cartridge refill shops and window treatment installation) and professional (e.g., pet daycare and hair salons).
The announcement comes on the heels of another enhancement to Avenues BOP — the addition of Employment Practices Liability Insurance (EPLI) coverage as an endorsement to every eligible new and renewal policy to help protect small businesses against the growing number of employee allegations of sexual harassment, job discrimination, and wrongful termination.
The Hanover’s broad BOP eligibility guidelines cover property values up to $15 million per location, annual sales up to $15 million per location; and square footage up to 50,000 per location (except office classes, which have no limit, and grocery stores, which have a limit of 15,000).
Avenues BOP is part of The Hanover’s small commercial platform, which allows agents to easily quote and, in many instances, issue BOP, commercial auto, umbrella, and workers’ compensation policies, and complete endorsements online.
Source: The Hanover Insurance Group, Inc.