The Hanover Enhances Its Offering for Complex Industrial Property Risks
The Hanover (NYSE: THG) launched Hanover Specialty Industrial Property (HSIP) Advantage, an admitted modular property product for small to mid-sized businesses handling high-hazard products. Effective for new business Oct. 1, 2025 and renewals Feb. 1, 2026, HSIP Advantage offers clearer policy language, customizable endorsements, and expanded coverages for complex sprinklered property risks often near the edge of standard-market insurability.
Key features include broadened property and business income coverages, a HSIP Advantage broadening endorsement with 12 broadened coverages and 19 new protections, amended limits/deductible options, and new valuation choices including agreed value and functional building replacement cost.
The Hanover (NYSE: THG) ha lanciato Hanover Specialty Industrial Property (HSIP) Advantage, un prodotto di proprietà modulari ammesso per aziende di piccole e medie dimensioni che gestiscono prodotti ad alto rischio. In vigore per nuove polizze dal 1 ottobre 2025 e per rinnovi dal 1 febbraio 2026, HSIP Advantage offre una formulazione della polizza più chiara, endorsement personalizzabili e coperture ampliate per rischi complessi di proprietà con sistemi antincendio a sprinkler spesso al limite dell'assicurabilità nel mercato standard.
Le caratteristiche chiave includono coperture estese per proprietà e reddito da attività, un endorsement di ampliamento HSIP Advantage con 12 coperture ampliate e 19 nuove protezioni, opzioni di limiti/deductible modificate e nuove scelte di valutazione tra valore concordato e costo di sostituzione funzionale dell'edificio.
The Hanover (NYSE: THG) lanzó Hanover Specialty Industrial Property (HSIP) Advantage, un producto de propiedad modular aprobado para pequeñas y medianas empresas que manejan productos de alto riesgo. Vigente para nuevos negocios a partir del 1 de octubre de 2025 y para renovaciones a partir del 1 de febrero de 2026, HSIP Advantage ofrece un lenguaje de póliza más claro, endosos personalizables y coberturas ampliadas para riesgos complejos de propiedades sprinkleradas, a menudo cercanos al límite de asegurabilidad del mercado estandarizado.
Las características clave incluyen coberturas ampliadas de propiedad e ingresos operativos, un endoso de ampliación HSIP Advantage con 12 coberturas ampliadas y 19 nuevas protecciones, opciones de límites/deductibles modificadas y nuevas opciones de valuación que incluyen valor acordado y costo de reemplazo funcional del edificio.
The Hanover (NYSE: THG)은 소기업에서 중간 규모의 기업을 대상으로 고위험 제품을 다루는 비즈니스용 Hanover Specialty Industrial Property (HSIP) Advantage를 출시했습니다. 새로운 비즈니스에 대해 2025년 10월 1일, 갱신은 2026년 2월 1일부터 적용되며, HSIP Advantage는 보다 명확한 보험 약관 문구, 맞춤형 엔드로즌, 표준 시장 보험 경계에 자주 놓인 복합 스프링클러 부동산 위험에 대한 확대 보장을 제공합니다.
주요 특징으로는 재산 및 영업소득 보장 확대, 12개의 확대 보장을 담은 HSIP Advantage 확장 엔드로즌, 19개의 신규 보호장치, 수정된 한도/공제 옵션, 동의가치 및 기능적 건물 대체 비용을 포함한 새로운 평가 선택지가 포함됩니다.
The Hanover (NYSE: THG) a lancé Hanover Specialty Industrial Property (HSIP) Advantage, un produit immobilier modulaire admis pour les petites et moyennes entreprises gérant des produits à haut risque. En vigueur pour les nouvelles affaires à partir du 1er octobre 2025 et des renouvellements à partir du 1er février 2026, HSIP Advantage propose un libellé de police plus clair, des avenants personnalisables et des garanties élargies pour les risques immobiliers complexes protégés par sprinklage, souvent près de la limite de l'assurabilité sur le marché standard.
Les caractéristiques clés incluent des couvertures élargies de propriété et de revenu d'exploitation, un avenant d'extension HSIP Advantage avec 12 garanties élargies et 19 nouvelles protections, des options de limites/déductibles modifiées et de nouvelles options d'évaluation incluant valeur convenue et coût de remplacement fonctionnel du bâtiment.
The Hanover (NYSE: THG) hat Hanover Specialty Industrial Property (HSIP) Advantage eingeführt, ein zugelassenes modulares Immobilienprodukt für kleine bis mittelgroße Unternehmen, die Produkte mit hohem Risiko handhaben. Gültig für neue Geschäfte ab dem 1. Oktober 2025 und für Erneuerungen ab dem 1. Februar 2026, bietet HSIP Advantage eine klarere Policenformulierung, anpassbare Endorstments und erweiterte Deckungen für komplexe sprinklierte Immobilienrisiken, die oft am Rand der Versicherbarkeit im Standardmarkt liegen.
Zu den Kernmerkmalen gehören erweiterte Sach- und Betriebsunterbrechungsdeckungen, ein HSIP Advantage Erweiterungsendort mit 12 erweiterten Deckungen und 19 neuen Schutzmaßnahmen, geänderte Höchstbeträge/Selbstbehalte sowie neue Bewertungsoptionen, darunter vereinbarter Wert und funktionale Neubau-Kosten.
The Hanover (NYSE: THG) أطلقت Hanover Specialty Industrial Property (HSIP) Advantage، وهو منتج عقاري modular مقبول للشركات الصغيرة إلى المتوسطة التي تتعامل مع منتجات عالية الخطورة. ساري للعمل التجاري الجديد اعتباراً من 1 أكتوبر 2025 وللتجديد اعتباراً من 1 فبراير 2026، يوفر HSIP Advantage لغة بوليصة أوضح، وتأييدات قابلة للتخصيص، وتغطيات موسعة للمخاطر العقارية المعقدة المجهزة بنظام الرش غالباً على حافة إمكانية الاكتتاب في السوق القياسي.
وتشمل الميزات الأساسية تغطيات موسّعة للممتلكات والدخل التجاري، وتأييد توسيع HSIP Advantage بـ 12 تغطية موسّعة و 19 حماية جديدة، وخيارات حدود/ deductibles معدّلة، وخيارات تقييم جديدة بما في ذلك القيمة المتفق عليها وتكلفة استبدال المبنى الوظيفية.
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Insights
New modular admitted product targets hard-to-place industrial property risks for small and mid-sized businesses, expanding specialty capabilities.
The Hanover launches HSIP Advantage, an admitted property solution for manufacturers, distributors, warehouses and transporters of high-hazard materials, effective
The business mechanism is simple: offer an admitted, modular alternative with explicit language and expanded endorsements to enable placement of complex, sprinklered industrial risks through agents and brokers. That should reduce friction in underwriting and placement for small and middle market accounts that previously needed non-admitted or highly negotiated forms.
Key dependencies and risks include actual adoption by distribution partners, underwriting capacity for high-hazard exposures, and loss experience once written; these will determine profitability and retention but are not disclosed here. Watch agent uptake metrics, issuance timelines beginning
Available for new business effective Oct. 1, 2025, and renewal business Feb. 1, 2026, HSIP Advantage offers a specialized, modular solution that can be customized with new insurance coverages and endorsements to address modern and emerging risks. The offering includes clear policy language and a straightforward product design that simplifies admitted property insurance protection for complex, sprinklered property risks that are often on the edge of insurability in the standard market.
"HSIP Advantage was designed to help our partners better serve their customers, offering a smarter, more adaptable solution for high-hazard property risks," said James A. Kelley, president, HSI at The Hanover. "We're proud to bring our updated product to market, which reflects our 50-plus years of deep expertise in industrial property, demonstrating our commitment to supporting agents and brokers with innovative tools and resources."
Key features of HSIP Advantage include:
- Building and business personal property coverage – Coverages include foundations, underground pipes, flues and drains; personal property owned for maintenance or servicing buildings or structures, or for maintaining or servicing its premises; labor, materials or services furnished or arranged by the business on personal property of others; and more
- Business income and extra expense coverage – Coverage options to help replace lost income and cover extra costs when a business temporarily shuts down due to a covered loss
- HSIP Advantage broadening endorsement – 12 broadened coverages and 19 new protections, such as appurtenant structures, non-owned detached trailers and windblown debris
- Amended limits of insurance and deductibles endorsement – Allows for increased limits and deductibles across all locations or at specific locations
- New valuation options – Agreed value and functional building replacement cost to help better protect businesses
"The Hanover is committed to solving the distinct specialty coverage needs of small and middle market customers, helping them to protect and build their businesses," said Bryan J. Salvatore, president, specialty at The Hanover. "Our new HSIP Advantage product further demonstrates our focus on specialization in this space and our dedication to our partners, making it even easier for our agents and brokers to deliver meaningful protection to their clients."
To learn more about HSIP Advantage, please visit hanover.com.
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
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All products are underwritten by The Hanover Insurance Company or one of its insurance company subsidiaries or affiliates ("The Hanover"). Coverage may not be available in all jurisdictions and is subject to the company underwriting guidelines and the issued policy. This material is provided for informational purposes only and does not provide any coverage.
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SOURCE The Hanover Insurance Group, Inc.
FAQ
What is HSIP Advantage from The Hanover (THG) and who is it for?
When is HSIP Advantage effective for new business and renewals for THG?
What new coverages does THG's HSIP Advantage include?
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Does HSIP Advantage simplify insurance for complex sprinklered property risks for THG clients?
