The Hanover Insurance Group has revealed enhancements to its Miscellaneous Professionals Advantage standalone liability product.
A release said that the enhanced professional liability product can now provide coverage to a broader range of small, mid-sized, and large firms.
With the enhancements, Hanover Miscellaneous Professionals Advantage now includes the following coverages:
- Privacy and security liability: Covers liability related to mishandling of clients' personal information
- Cyber liability: Covers multiple types of cyber breach expenses, such as business interruption
- Pre-claim assistance: Covers costs or defense expenses for investigating or monitoring a potential claim
- Crisis event expense: Covers expenses for consulting services performed by a crisis management firm
- Withheld client fee assistance: Protects against clients refusing to pay for completed services
- Reputation protection: Reimburses expenses incurred responding to a reputation event on social or traditional media
- Replacement of key officers: Reimburses replacement expenses, such as advertising and travel costs
- Workplace violence counseling: Reimburses counseling expenses for witnesses of physical workplace violence
In addition to the enhanced coverages, Hanover Miscellaneous Professionals Advantage now provides clients with risk management and expert claims services. The Hanover’s team of in-house risk management experts offers its expertise to clients in need of strategies, and a dedicated professional liability claims team will help in resolving complex claims.
"Professional firms today face a variety of evolving and emerging risks," said The Hanover president of Hanover Professionals Gregory W. Leffard. "We've made significant investments in our professional liability offering to ensure our agents have flexible, robust products and service solutions designed to help protect their clients against a wide range of exposures."
The product has been rolled out in the majority of states where The Hanover operates, and there are plans to offer it in all commercial lines states in early 2020, the company revealed.