The Hanover is one of the top ten insurance companies in Massachusetts and the top 25 in the U.S.
Worcester-based insurer, The Hanover Insurance Company, announced this week that it is offering a new Fidelity & Crime Advantage coverage program. The new program is available exclusively through independent agents as either a monoline policy or as part of The Hanover’s management liability package. The Hanover says its latest product offering is a new tool that agents can customize to the exact needs of their insureds.
“Businesses today are increasingly susceptible to fraud in this high tech environment, and in particular to fraud committed by corrupt employees or employees who are manipulated by others,” said Jeffrey L. Gordon, vice president of fidelity and crime at The Hanover. “Our new, comprehensive solution for fidelity and crime insurance helps our independent agents protect their business clients from financial losses due to fraud involving their employees and others.”
The new enhancements to The Hanover’s Fidelity & Crime Advantage include the following features:
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 adjust to ERISA requirements to protect employee benefit plan assets from acts of fraud or dishonesty by individuals responsible for managing the plans.
The new coverage program also offers The Hanover’s proprietary crime policy form with several important coverages to help agents protect their clients with options that provide a broader and more flexible coverage. These coverages may include: client’s property, personal accounts, computer and ID fraud, as well as claim and data restoration investigative expenses.
Lastly, The Hanover says that the Policy terms and conditions have been improved for this latest commercial crime coverage offering to make it more user friendly for both businesses and agents.
For more information, independent agents can learn more at The Hanover Insurance Co..