The Hanover Enhances Professional Liability Offering for Architects and Engineers
WORCESTER, Mass., June 11, 2018 / The Hanover Insurance Group, Inc. (NYSE: THG) today announced enhancements to its Architects and Engineers Advantage professional liability product. These specialized coverages offer enhanced protection against the financial impact of claims or lawsuits resulting from allegations of negligence, malpractice, or errors and omissions, especially as new technological innovations and efficiencies continue to be used.
“These enhancements are part of our commitment to provide innovative coverages that help our partners to more effectively address the evolving needs of professionals,” said Gregory W. Leffard, president, Hanover Professional. “With many A&E professionals supporting the push to rebuild U.S. infrastructure, it’s even more critical they are properly insured. This represents a competitive advantage for our partner agents and brokers as they seek to provide leading professional liability protection to their clients.”
The Hanover created the following supplemental endorsements, which can be added to meet clients’ unique coverage needs:
- Remediation expense to cover expenses incurred to remediate a design error when a firm is performing its services in a design-build or design-only capacity
- Withheld client fee assistance to cover a portion of a fee due for a firm’s professional services being withheld by a client, even if a lawsuit is not filed
- Reputation protection expense to cover costs incurred for crisis management consulting services following a reputation event
- Crisis event expense to cover costs incurred for crisis management consulting services following a crisis event
- Peer review expense for costs incurred in seeking a third-party peer review of a firm’s plans and specifications to help reduce the chance of design errors
- Disciplinary proceedings expense to help cover the defense costs of responding to a disciplinary proceeding brought against a firm
- Cyber privacy, security and media liability coverage to cover the expense of responding to claims of wrongful acts in the rendering of or the failure to render professional services, resulting in a privacy, security, or cyber media breach
The enhanced Architects and Engineers Advantage professional liability product offerings are part of an expansive set of solutions for professionals. In addition to these coverages, The Hanover also offers leading risk management services, including employee background screening services, contract review services, a risk management hotline and an online portal with a variety of risk management tools and information for insureds.
The company is well positioned to support agent partners who are seeking markets that offer higher capacity quotes to professional clients, and is actively quoting and writing architect and engineer firms with available coverage limits up to and including $10 million.
To learn more about The Hanover’s professional liability offering, 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 in a dynamic world. The Hanover distributes its products through a select group of independent agents and brokers. Together with its agents, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. Through its international member company, Chaucer, The Hanover also underwrites business at Lloyd’s of London in several major insurance and reinsurance classes, including marine, property and energy. For more information, please visit hanover.com.
Emily P. Trevallion
Abby M. Clark
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. The new policy offering is written under form 921-1001 01/18. For more information about The Hanover visit our website at www.hanover.com.
©2018 The Hanover Insurance Group, Inc. All Rights Reserved.
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SOURCE The Hanover Insurance Group, Inc.