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Posted on 27 Jul 06
New Classes Allow Agents To Write More Business Across Small Commercial
Market
The Hanover Insurance Group, Inc. (NYSE: THG), a leading super regional property
and casualty company, announced that it has added 81 new classes to the
company's Avenues(TM) Business Owner's Policy, allowing agents to write more
business across the small commercial market.
Independent agents choose Avenues BOP for its consistent underwriting and
pricing, flexible coverage, user-friendly technology and self-service tools, and
responsive, local marketing and underwriting support. The enhanced Avenues BOP
offers coverage for more than 360 BOP classes, matching competitors' 1,000-plus
class codes by doing more with fewer, but more inclusive 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.
To further meet the needs of the company's independent agent partners, The
Hanover 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 enhanced Avenues BOP reinforces The Hanover's commitment to the small
commercial marketplace. The advancement 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).
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