The Hanover Expands Business Owner’s Policy

The Hanover Insurance Group Inc. based in Worchester, Mass., has added 81 new classes to the company’s Avenues Business Owner’s Policy.

The enhanced Avenues BOP offers coverage for more than 360 BOP classes. In addition, The Hanover’s broad BOP eligibility guidelines cover property values up to $15 million per location; annual sales up to $15 million per location; square footage up to 50,000 per location; and ordinance or law up to $2 million.

“For more than 150 years, The Hanover has provided valuable coverage for small commercial businesses,” said David Firstenberg, president of The Hanover’s commercial lines business. “Our new BOP classes, combined with our already broad eligibility guidelines, offer our agent partners more options and a broader risk appetite for their small commercial clients.”

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.

The Hanover also offers the local market support agents need, including experienced and knowledgeable underwriters who are available to assess larger risks and ensure suitable client coverage, and Small Commercial Sales Managers, who know the local markets and can write and bind small commercial accounts up to $25,000.

The expansion comes on the heels of The Hanover’s introduction of a BOP class comparison look-up tool, designed to help agent partners quickly and efficiently categorize a small business owner’s industry classification.

Additional information about the company’s new BOP classes can be found on The Hanover’s agent resource site, The Agency Place (TAP).

Source: The Hanover

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