#United States #Worcester #Industrial Property #Hanover Insurance #HSIP Advantage

The Hanover Unveils HSIP Advantage for Complex Industrial Property Needs

On November 3, 2025, The Hanover Insurance Group, Inc. showcased its latest innovation, the Hanover Specialty Industrial Property (HSIP) Advantage. This new insurance offering is particularly focused on the unique challenges faced by small to mid-sized businesses involved in manufacturing, blending, distributing, warehousing, or transporting high-hazard products and materials. The launch is a strategic move to modernize insurance solutions tailored to these businesses, which often deal with complicated operational risks.

Effective for new policies from October 1, 2025, and for renewals starting February 1, 2026, the HSIP Advantage provides a customizable and modular solution that allows businesses to adapt their insurance coverage in response to evolving threats and challenges. With its clear policy language and straightforward design, this product aims to streamline the insurance process for companies that often operate on the fringes of insurability in traditional insurance markets.

James A. Kelley, president of HSI at The Hanover, emphasized the intention behind this offering, stating, "HSIP Advantage was designed to help our partners better serve their customers, offering a smarter, more adaptable solution for high-hazard property risks." This reflects the company's five-decade legacy of expertise in handling industrial property insurance requirements, underlining their ongoing commitment to providing innovative tools and resources for agents and brokers.

Key Features of HSIP Advantage

HSIP Advantage comes equipped with several compelling features intended to enhance protection and coverage for clients:

• - Building and Business Personal Property Coverage: This includes coverage for foundations, underground pipes, and personal property utilized for the maintenance of buildings. Additionally, it covers labor, materials, or services arranged by the business on property not owned by them.

• - Business Income and Extra Expense Coverage: This provides financial support to replace lost income and covers additional costs incurred when a business experiences temporary shutdowns due to covered losses.

• - Broadening Endorsements: This features 12 expanded coverages and introduces 19 new protections, which include appurtenant structures and non-owned detached trailers.

• - Amended Limits of Insurance and Deductibles Endorsement: It allows for adjusting insurance limits and deductibles – either across all locations or at specific sites to better tailor coverage.

• - Valuation Options: Both agreed value and functional building replacement cost options are available to ensure businesses are adequately protected.

Bryan J. Salvatore, president of specialty at The Hanover, echoed the company's dedication to meeting the distinctive coverage needs of their clientele. He stated, "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." This product launch serves to underscore The Hanover's focus on specialization and a commitment to making it easier for agents and brokers to provide substantial coverage to their clients.

For anyone interested in learning more about HSIP Advantage and how it can benefit high-hazard industries, additional details are available on The Hanover's official website.

About The Hanover

The Hanover Insurance Group, Inc. stands as a notable player in the property and casualty insurance sector within the United States. Through a network of independent agents and brokers, The Hanover delivers both standard and specialized insurance solutions tailored for small and mid-sized enterprises, in addition to personal insurance products. For more insights and information about their offerings, visit hanover.com.