Hanover Enhances Fidelity, Crime Coverage

The Hanover Insurance Group, Inc. has launched 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.

The Hanover’s Fidelity & Crime Advantage enables independent agents to build customized insurance programs for 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 coverages that help simplify the new business process for agents, while better protecting their clients with 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 the latest commercial crime coverage offering.

The Hanover’s Fidelity & Crime Advantage can be offered as a monoline policy or as part of the management liability package.

The Hanover distributes its fidelity and crime products solely through independent insurance agents.

The Hanover Insurance Group, Inc., based in Worcester, Mass., is the holding company for several property and casualty insurance companies. 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.

Topics Fraud Agencies