The Hanover Enhances Its Offering for Complex Industrial Property Risks

Core Insights - The Hanover Insurance Group has launched a new property insurance product called Hanover Specialty Industrial Property (HSIP) Advantage, aimed at modernizing coverage for small to mid-sized businesses dealing with high-hazard products and materials [1][2][3] Product Features - HSIP Advantage is available for new business starting October 1, 2025, and for renewal business from February 1, 2026, offering a modular solution that can be customized with new coverages and endorsements to address modern risks [2] - The product features clear policy language and a straightforward design, simplifying admitted property insurance for complex, sprinklered property risks [2][3] - Key features include building and business personal property coverage, business income and extra expense coverage, a broadening endorsement with 12 new coverages and 19 protections, amended limits of insurance and deductibles endorsement, and new valuation options [6] Company Commitment - The Hanover emphasizes its commitment to addressing the specialty coverage needs of small and middle market customers, aiming to provide innovative tools and resources to agents and brokers [4][5]