The Hanover Insurance Group (The Hanover) has announced the launch of Hanover Financial Institutions Advantage for asset managers.

As a result, the solution allows The Hanover’s agent partners to better serve small to mid-sized asset managers. Offerings include coordinated property, casualty, management and professional liability coverages.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Specialised coverages within Hanover Financial Institutions Advantage include:

  • A financial institution bond to address employee dishonesty, forgery and fraud;
  • Directors, officers and entity liability coverage;
  • Cyber coverage to respond to a variety of attacks including data breaches;
  • Lending and trust services liability coverage to address lawsuits arising from lending activities, including class action demands and counter actions against foreclosure and repossession matters;
  • Business income and extra expense coverage to enable clients to continue operations after a loss;
  • Broadened property coverage;
  • Foreclosed property and trust coverage;
  • Mortgage errors and omissions coverage, and
  • Professional liability cover to address reputation risk and defend against accusations of a wrongful act.

Furthermore, the service offers resources, services discounts for loss prevention including an online risk management portal. An employment practices liability risk management hotline and preferred pricing on employment screens are also available.

“We recognise the importance of delivering account-focused solutions, helping our agent partners to build integrated insurance programs for their financial institution clients,” said Bryan J. Salvatore, president of specialty at The Hanover.

“The risks facing financial institutions today are ever-changing and increasingly complex. It’s more important than ever that insurance plans are coordinated across specialty and standard lines, helping provide more cohesive protection and deliver a more seamless insurance experience.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Hanover is present in two dozen states in the US and will be available in additional markets in early 2020.

The Hanover recently rolled out its new separate non-admitted cyber coverage to safeguard commercial lines agents and their clients from increasing risk of cyber threats.

Dubbed Hanover Cyber Advantage Premier, the coverage offers agent partners with access to specialised and complementary products to serve their small and mid-sized businesses.