Hanover Insurance launches new industrial property coverage product

The Hanover Insurance Group, Inc. (NYSE: THG) announced the launch of Hanover Specialty Industrial Property (HSIP) Advantage, a property insurance product for small to mid-sized businesses that manufacture, blend, distribute, warehouse or transport high-hazard products and materials.

The product became available for new business on Oct. 1, 2025, with renewal business availability beginning Feb. 1, 2026. HSIP Advantage targets sprinklered property risks that are considered on the edge of insurability in the standard market.

The coverage includes building and business personal property protection, business income and extra expense coverage, and a broadening endorsement with 12 enhanced coverages and 19 new protections. Additional features include amended limits and deductibles options and new valuation methods such as agreed value and functional building replacement cost.

"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 of HSI at The Hanover.

The product includes coverage for foundations, underground pipes, flues and drains, personal property for building maintenance, and labor and materials for servicing personal property of others. The broadening endorsement covers items such as appurtenant structures, non-owned detached trailers and windblown debris.

The Hanover Insurance Group operates as one of the largest insurance businesses in the United States, providing property and casualty insurance through independent agents and brokers. The company serves small and mid-sized businesses as well as personal insurance customers.

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