Russell Innovation Center for Entrepreneurs and The Hanover Announce Exclusive Insurance-Based Programming

Rhea-AI Summary

The Hanover Insurance Group, Inc. (THG) partners with Russell Innovation Center for Entrepreneurs (RICE) to introduce insurance-based programming supporting Black entrepreneurs. A $250,000 grant aims to enhance RICE's initiatives in Georgia and beyond, including a three-part educational series on insurance fundamentals. The collaboration seeks to empower Black business owners with essential risk management and insurance knowledge for sustainable growth and success.

New programming designed to support Black entrepreneurs

WORCESTER, Mass., April 3, 2024 /PRNewswire/ -- The Russell Innovation Center for Entrepreneurs (RICE) and The Hanover Insurance Group, Inc. (NYSE: THG) announced the introduction of insurance-based programming designed to foster economic mobility within the entrepreneurial community that is supported by RICE.

A $250,000 grant from The Hanover is designed to advance RICE's continued programming and support of Black business owners in Georgia and beyond. The Hanover also partnered with RICE to develop and implement a three-part educational series on key insurance considerations for businesses. Entrepreneurs will be able to access the series through Digital RICE, the Center's innovative online platform offering access to master classes from industry experts, personal development and leadership content, and a resource directory tailored to the needs of Black entrepreneurs. This series provides:

• An overview of commercial insurance fundamentals
• The basics of risk management
• The value of working with an independent insurance agent when selecting insurance

"RICE has made a large impact on the Black business and entrepreneurial community, helping to advance the work and growth of many Black business owners," said Basil Morris, chief strategy officer at The Hanover and executive sponsor of the RICE partnership. "Partnering with the team at RICE to develop this new insurance-based programming helps strengthen the resiliency and sustainability of these businesses by providing an important foundational understanding of the complex risk management and insurance landscape."

"We are honored to collaborate with The Hanover in pioneering this program to equip Black entrepreneurs with the necessary tools and knowledge to navigate the complexities of risk management and insurance," said Jay Bailey, president, and CEO of RICE. "This type of uncommon access and opportunity is the foundation of knowledge and resources Black business owners need for sustainable growth and success."

The launch event was held Tuesday, April 2, at RICE's headquarters in Atlanta, Ga., and included a brief presentation, an announcement regarding The Hanover's commitment to supporting diverse business communities and a networking opportunity with colleagues and entrepreneurs of RICE and The Hanover.

About RICE
The Russell Innovation Center for Entrepreneurs (RICE) is Atlanta's home for Black entrepreneurs. Positioned as a business generator, RICE serves as an economic mobility engine for the community: driving entrepreneurs and small business owners to innovate, grow, create jobs and build wealth. Inspired by the legacy of Herman J. Russell, one of the most successful Black entrepreneurs and civic leaders in Atlanta, RICE remains dedicated to its mission to Build. Black. Business. and stands as the largest center in the world dedicated to growing, scaling, and developing Black Entrepreneurs. For more information visit www.RussellCenter.org, download the RICE Report Volume 1, and follow @RICEAtlanta on Instagram and Twitter and @RussellCenterAtlanta on Facebook. And LinkedIn. 

About The Hanover
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, the company offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.

THE HANOVER CONTACTS:
Abby C. Ursoleo	Emily P. Trevallion
aursoleo@hanover.com	etrevallion@hanover.com
508-855-3549	508-855-3263
RICE CONTACT:
Shalon Brown
pr@russellcenter.org

 

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SOURCE The Hanover Insurance Group, Inc.

FAQ

What is the partnership between The Hanover Insurance Group and RICE about?

The partnership aims to introduce insurance-based programming supporting Black entrepreneurs.

What is the grant amount provided by The Hanover to RICE?

The Hanover granted $250,000 to enhance RICE's initiatives for Black business owners.

What does the three-part educational series on insurance cover?

The series includes an overview of commercial insurance fundamentals, basics of risk management, and the value of working with an independent insurance agent.

Who is the chief strategy officer at The Hanover?

Basil Morris is the chief strategy officer at The Hanover and executive sponsor of the RICE partnership.

Who is the president and CEO of RICE?

Jay Bailey is the president and CEO of RICE.