The Hanover Enhances Its Offering for Complex Industrial Property Risks

Rhea-AI Summary

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.

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WORCESTER, Mass., Nov. 3, 2025 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced the launch of Hanover Specialty Industrial Property (HSIP) Advantage, a new admitted property product designed to modernize insurance coverage for small to mid-sized businesses that manufacture, blend, distribute, warehouse or transport high-hazard products and materials.

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 the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover 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.

Media contacts:
Abby C. Ursoleo	Emily P. Trevallion
aursoleo@hanover.com	etrevallion@hanover.com
508-855-3549	508-855-3263

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?

HSIP Advantage is an admitted modular property product for small to mid-sized businesses that manufacture, blend, distribute, warehouse or transport high-hazard products.

When is HSIP Advantage effective for new business and renewals for THG?

HSIP Advantage is available for new business effective Oct. 1, 2025 and for renewal business effective Feb. 1, 2026.

What new coverages does THG's HSIP Advantage include?

The product includes broadened building and business personal property coverages, business income and extra expense options, 12 broadened coverages and 19 new protections like appurtenant structures and non-owned detached trailers.

How does HSIP Advantage address valuation and limits for THG policyholders?

HSIP Advantage offers amended limits and deductible endorsement to increase limits or deductibles by location and new valuation options including agreed value and functional building replacement cost.

Does HSIP Advantage simplify insurance for complex sprinklered property risks for THG clients?

Yes; the product emphasizes clear policy language and a straightforward design to simplify admitted property protection for complex sprinklered risks that are often hard to insure in the standard market.