The Hanover launches new coverage for tech businesses

The Hanover launches new coverage for tech businesses | Insurance Business

The Hanover launches new coverage for tech businesses

The Hanover Insurance Group has announced the launch of Hanover Technology Professional and Cyber Advantage, an integrated errors and omissions, cyber, and risk management product for technology businesses.

The product is designed to address the risks faced by technology companies, and can be customized to meet the needs of businesses from start-ups to multinational corporations, The Hanover said.

“We designed Hanover Technology Professional and Cyber Advantage with our agents and customers in mind,” said Toby T. Levy, vice president of technology and life sciences at The Hanover. “We wanted to make it easy to access all the professional and cyber coverages and services needed in today’s marketplace. But it’s not a one-size-fits-all approach. Each program can be highly customized to address the specific needs of clients throughout various stages of their lifecycle.”

The product offers errors and omissions liability, cyber and privacy security liability, personal injury liability and media and content liability. It also offers a range of first-party cyber coverage options, including:

  • Security breach notification and remediation
  • Data and systems restoration
  • Cyber extortion
  • Business income and extra expense
  • Funds transfer fraud
  • Public relations expenses

The Hanover also offers Hanover Technology Professional and Cyber Advantage clients a suite of risk management products, such as its eRiskHub, with tools that help clients understand exposures, make a response plan and minimize the effects of a data breach. Clients will also have access to discounts from third-party partners, a dedicated technology and cyber claims team and more.

Hanover Technology Professional and Cyber Advantage is available in most of the company’s commercial lines states.