Headquarters address: 440 Lincoln Street, Worcester, Massachusetts 01653, United States
Year established: 1852
Size (employees): 6,500
Net premiums written: $5 billion
Underwriting expertise: Personal and business insurance
Key people: John C. Roche (president & CEO), Jeffrey M. Farber (executive vice-president, chief financial officer), Dennis F. Kerrigan (executive vice-president, general counsel), Richard W. Lavey (executive vice-president & president of Hanover Agency Markets), Willard T. Lee (executive vice-president, chief information and innovation officer), Denise Lowsley (executive vice-president, chief human resources officer), Bryan J. Salvatore (executive vice-president & president of specialty), Mark J. Welzenbach (executive vice-president, chief claims officer)
The Hanover Insurance Group, Inc. (The Hanover) is an insurance holding company that offers a range of property and casualty (P&C) policies to individuals, families, and businesses through its network of independent agents across the US. The group also provides claims and risk management services.
The Hanover boasts a long list of subsidiaries, which distribute its products and services to clients in different regions of the country. These are:
The Hanover has received an A rating for financial stability from global credit rating agencies A.M. Best, Standard & Poor’s, and Moody’s. The group is also accredited by the Better Business Bureau (BBB).
The Hanover offers an array of personal and commercial policies to fit the varying needs of its individual and business clients.
The Hanover’s personal lines portfolio includes:
The Hanover has also partnered with identity management and fraud education specialist CyberScout to provide customers with identity theft coverage and cyber education and restoration services. For young drivers, the company offers the Hanover SafeTeen initiative, which is a series of programs aimed at educating teen motorists about road safety and responsible driving. Prestige, the group’s distinctive brand of personal insurance policies, meanwhile, is tailored for high-value homes and vehicles.
The Hanover offers the following coverages for businesses across a wide range of industries:
The Hanover’s commercial lines products caters to the following sectors:
Roche was appointed president and CEO of The Hanover in October 2017. Since joining the group in 2006, he has served in various senior leadership roles, most recently as president of Hanover Agency Markets. Roche has also served as president of business insurance and vice-president of field operations, marketing, and distribution, as well as vice-president of underwriting and product management, commercial lines.
Prior to joining The Hanover, Roche held senior underwriting and management roles at the St. Paul Travelers Companies, Fireman’s Fund Insurance Company, and Atlantic Mutual Insurance. He is also currently on the board of directors for The Institutes and American Property Casualty Insurance Association and the board of overseers of St. John’s University School of Risk Management. He previously served on the board of the National Council on Compensation Insurance. Roche earned a Bachelor of Arts degree from the University of Connecticut.
The Hanover is committed to being a socially responsible organization. Part of this commitment is “embracing inclusion, diversity, and equity (IDE) in all forms. Among The Hanover’s IDE initiatives are:
The Hanover also has several employee-led business resource groups (BRGs) aimed at supporting women and underrepresented populations and their allies. These include:
The group also reinforces its commitment to sustainability through various initiatives, including the following:
President highlights exceptional performance of a product line this quarter
Panel spotlights emerging exposures
Incoming CEO a seasoned leader in association management
It aims to go beyond physical recovery