The Hanover Launches New Life Sciences Insurance Solution
The Hanover Insurance Group, Inc. today announced the introduction of its new life sciences product, Hanover Fusion, a customizable solution that offers the ability to combine four distinctive coverages under a single policy, which is often difficult to find, demonstrating the company’s commitment to innovation. Hanover Fusion makes it easier for independent insurance agents to provide high-quality insurance programs for life sciences businesses.
Agents often have to piece together separate insurance policies to create a program that can fully address the contemporary risks and evolving risk exposures facing life sciences companies. Hanover Fusion enables agents to combine a variety of coverages under one policy aimed at providing holistic protection, tailored to the needs of each client.
The four coverages include:
- Products-completed operations liability, including automatic protection for human clinical trials
- Errors and omissions, including protection for breach of warranties or representation
- Information security, privacy and personal injury, including protection for unauthorized access, use or theft of personal data by a third party, or the unintended transmission of a malicious code to a third party
- Media and content, including protection for infringement or dilution of title, slogan, trademark, service mark, or registered copyright
“This innovative product helps solve for the challenges many life sciences organizations face, responding with coverages that are flexible and built to evolve with this dynamic market,” said Toby Levy, vice president, technology at The Hanover. “Whether a medical device manufacturer or a biotech company, Hanover Fusion offers seamless protection for a wide variety of life sciences customers, enabling agents to more easily solve for these businesses’ unique needs.”
The array of risks facing life sciences companies can present a challenge for agents looking to provide risk management and claims services. The company has dedicated claims specialists, risk management professionals and specially-trained underwriters to handle the unique and complex needs of this industry.
“The Hanover’s product is really unique in the market,” said Michael W. Robertson, director, life sciences and technology at Aquesta Insurance, a leading independent insurance agency. “It takes a comprehensive look at the needs of a life sciences customer and responds with a customizable solution, designed to grow with the customer as their business grows.”
In addition to Fusion, the company also offers a broad portfolio of core coverages, including general liability, property, workers’ compensation and international coverages, providing a total, all-lines approach for life sciences organizations.
To learn more about Hanover Fusion, the company’s agent partners can contact their local Hanover representative.