WORCESTER, Mass., April 10, 2013 /PRNewswire/ -- As the technology market continues to grow, so does the industry's risks. Privacy, internet activities, outsourcing and international expansion are just a few of the issues that create exposures technology companies are wrestling with more and more every day.
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With this in mind, The Hanover Insurance Group, Inc. today announced the addition of several new businesses owners (BOP) and commercial package policy enhancements for its technology product suite. Together with the company's previously announced technology errors and omissions advancements, the innovations are designed to help agents meet the growing demand for comprehensive insurance protection for technology companies.
"The Hanover really came to the table with a product that didn't just meet our needs, it exceeded them," said Arthur Bruinooge, who leads that technology practice at Cross Insurance Manchester. A former board member and current trustee of the New Hampshire High Technology Counsel, Bruinooge has been providing specialized insurance coverage for a wide range of technology companies for more than two decades.
"The Hanover offers a tremendous level of experience in technology. It has local, dedicated staff that understands the needs of our technology clients, provides advice on their unique exposures, and turn things around very quickly," Bruinooge said. "Whether companies are small, growing or even international, The Hanover has been able to help us meet their needs."
Through Hanover Technology Advantage, The Hanover's agent partners can solve the unique challenges faced by technology businesses in more than 125 classes, including the information technology, electronics manufacturing, and telecommunication service provider industries. The distinctive solution combines unique coverages, local expertise, and risk management solutions to help technology companies protect against the ever-changing, complex risks they face. These offerings also can be customized to meet the individual needs of each business.
Powerful BOP & CPP Enhancements
Because no two technology companies are alike, The Hanover offers an array of BOP and CPP broadening endorsements that provide many important coverage extensions. The policy also can be customized to include umbrella, professional liability, workers' compensation, and commercial auto.
Some highlights of the BOP and CPP changes, include:
- Three different levels of BOP broadening endorsements, each with dozens of additional coverages.
- Three different property broadening endorsements specifically tailored to the needs of the information technology, electronics manufacturing and telecommunication sectors
- First party data breach
Additional, optional coverages include:
- Revised business income
- Enhanced website and internet liability
- Worldwide liability
"The technology industry is one of the fastest-growing sectors of our economy," said Toby Levy, vice president, technology insurance at The Hanover. "With this in mind, it is critical that we build a solution that is as flexible and dynamic as the technology companies that we protect."
Agents interested in more details on The Hanover's Technology Advantage, should reach out to the company through one of its local branch offices, which can be found at hanover.com, or by emailing techinsure@hanover.com
ABOUT THE HANOVER
Founded in 1852, The Hanover Insurance Group, Inc. (NYSE: THG) is proud to be celebrating 160 years of delivering on its promises to its agent and broker partners, and their customers. The Hanover Insurance Group, Inc., based in Worcester, Mass., is the holding company for a group of insurers that includes The Hanover Insurance Company, Chaucer Holdings plc., and their affiliates. The Hanover offers a wide range of property and casualty products and services to businesses, individuals, and families through a select group of agents and brokers. The company is ranked among the top 25 property and casualty insurers in the United States. Through Chaucer, the company also underwrites business at Lloyd's of London in several major insurance and reinsurance classes, including property, marine and aviation, energy, U.K. motor and casualty. For more information, please visit www.hanover.com
CONTACT:
Amy Banek
Media Relations
abanek@hanover.com
(508) 855-4486
SOURCE The Hanover Insurance Group, Inc.