To help agent partners attract and round accounts to help grow their businesses
The Hanover Insurance has introduced new capabilities to write workers compensation for small commercial businesses.
The company has launched a new worker’s compensation broadening endorsement, which will be added to all new avenues workers compensation policies; upgraded its point-of-sale system to make it easier to quote and issue small commercial workers compensation business; formed a new underwriting company to offer even more competitive pricing for select small commercial businesses and expanded its appetite for mono-line business.
The company said that the broadening endorsement will extend small business protection by offering voluntary workers compensation, coverage for unintentional failure to disclose hazards, repatriation coverage for bodily injury, automatic stop gap coverage and three other coverages automatically for no additional premium.
According to the company, its subsidiary, Allmerica Financial Benefit Insurance Company (AFB), offers agent partners competitive pricing when placing small workers compensation policies as part of an account or on a monoline basis.
David Firstenberg, president of commercial lines at The Hanover, said: We enhanced our small commercial workers’ compensation capabilities as yet another way to help our agent partners attract and round accounts to help grow their businesses. In addition, we will be making even more investments in our small commercial offering in the coming months to continue to help our agent partners take advantage of the emerging opportunities in this market segment.
These product and system upgrades complement the company’s expanded underwriting appetite for small commercial workers compensation.