The Hanover Insurance Group has launched Hanover Specialty Industrial Property (HSIP) Advantage, a new admitted property product.
This offering, the insurer stated, has been designed to modernise insurance coverage for small to mid-sized businesses that manufacture, blend, distribute, warehouse or transport high-hazard products and materials.
HSIP Advantage will be available for new business effective Oct. 1, 2025, and renewal business Feb. 1, 2026.
This new product will offer a specialised, modular solution that can be customised with new insurance coverages and endorsements to address modern and emerging risks.
This offering provides clear policy language and a simple product design, streamlining admitted property insurance for complex, sprinklered risks that often struggle for insurability in the standard market.
James A. Kelley, president, HSI at The Hanover, said: “HSIP Advantage was designed to help our partners better serve their customers, offering a smarter, more adaptable solution for high-hazard property risks.
“We’re proud to bring our updated product to market, which reflects our 50-plus years of deep expertise in industrial property, demonstrating our commitment to supporting agents and brokers with innovative tools and resources.”
HSIP Advantage key features include: building and business personal property coverage, business income and extra expense coverage, a broadening endorsement, amended limits of insurance and deductibles endorsement, as well as new valuation options.
Bryan J. Salvatore, president, specialty at The Hanover, commented: “The Hanover is committed to solving the distinct specialty coverage needs of small and middle market customers, helping them to protect and build their businesses.
“Our new HSIP Advantage product further demonstrates our focus on specialization in this space and our dedication to our partners, making it even easier for our agents and brokers to deliver meaningful protection to their clients.”
