New updates further protect accountants and allied healthcare organizations
The Hanover Insurance Group, Inc. (NYSE: THG) today announced the company’s latest investments in its professional lines solutions with enhancements to its Hanover Accountants Professional Advantage product and its Hanover Allied Healthcare Advantage offering.
“Today’s professional liability marketplace is constantly changing as risk evolves,” said Gregory W. Leffard, president, professional and executive lines at The Hanover. “Social media has grown to be a source of reputation risk and supply chains are a target for cyberattacks. We’re continuing to respond to the emerging needs of our agents and clients with meaningful investments in our errors and omissions product portfolio. The enhancements to our accountants and allied healthcare offerings enable our agent partners to design flexible, customizable solutions around their clients’ very specific needs, helping best protect them against evolving risks.”
Hanover Accountants Professional Advantage offers flexible, standalone coverage for a broad range of professionals, from small tax preparers to top accounting firms. A new professional liability enhancement endorsement adds nine supplemental coverages, and the definition of “professional services” was broadened to include any advice given or services provided, offering better protection for accountant clients. Furthermore, to address clients’ cyber liability exposures, privacy and security liability coverage is included in the base form to cover liability related to the mishandling of clients’ personal information.
Hanover Allied Healthcare Advantage offers a multiline solution that includes professional liability, general liability, property, automobile, umbrella and workers’ compensation coverages, and other specialized coverages for durable medical equipment businesses, home healthcare organizations, orthotics and prosthetics providers/suppliers and pharmacies. A few of the key enhancements include:
- Public relations expense: Provides reimbursement of public relations expenses from an emergency incident
- Theft of client property: Covers loss of or damage to a client’s money, securities or other properties
These enhancements further strengthen the company’s existing suite of professional liability and healthcare solutions for its agent partners, which also includes its Hanover Eldercare Advantage offering, Hanover Lawyers Professional Advantage product and Hanover Miscellaneous Professionals Advantage product, which was significantly enhanced in 2019.
The company offers dedicated risk management consultants and risk management websites for both Hanover Accountants Professional Liability Advantage and Allied Healthcare Advantage clients. Accountant clients can benefit from a risk management hotline, sample engagement letters and contracts. Allied Healthcare Advantage clients have access to discounts on valuable third-party services, including background checks, active shooter training and business continuity planning assistance.
Source: Company Press Release