Hanover should have gone under years ago when they fiscally almost bottomed out before their latest CEO Eppinger came to temporary rescue. Economically, they don’t have the finances to support these losses and their purchase of Chaucer was a lifeboat to them to spread their value but they don’t have a fiscal paddle to control their assets (look at their yearly reports let alone quarter losses publc to all, just get an educated CPA to read them for you); let alone the debacle of their move west run by a claims department thats sole purpose is band aiding losses. Additionally, they are technically behind all competitors with computers and IT though they will tout one software program they developed that is irritable at best. This company has been on the decline, let alone news from the inside of bonuses not paid due to weak performance of the company unable to pay its star employees who move elsewhere (ie Chubb, Travelers, Farmers, Allstate, or private firms etc) Hanover needs to be bought up by a larger company. This company is tredding water and won’t be around after another hurricane, earthquake or toxic tort…its time to sell it for parts. As a private investor in this industry I have seen no sign of this company to revive itself, but dont rely on me…do your own homework and make your own decision.
Hanover should have gone under years ago when they fiscally almost bottomed out before their latest CEO Eppinger came to temporary rescue. Economically, they don’t have the finances to support these losses and their purchase of Chaucer was a lifeboat to them to spread their value but they don’t have a fiscal paddle to control their assets (look at their yearly reports let alone quarter losses publc to all, just get an educated CPA to read them for you); let alone the debacle of their move west run by a claims department thats sole purpose is band aiding losses. Additionally, they are technically behind all competitors with computers and IT though they will tout one software program they developed that is irritable at best. This company has been on the decline, let alone news from the inside of bonuses not paid due to weak performance of the company unable to pay its star employees who move elsewhere (ie Chubb, Travelers, Farmers, Allstate, or private firms etc) Hanover needs to be bought up by a larger company. This company is tredding water and won’t be around after another hurricane, earthquake or toxic tort…its time to sell it for parts. As a private investor in this industry I have seen no sign of this company to revive itself, but dont rely on me…do your own homework and make your own decision.