The Hanover Expands Life Sciences Insurance for Early-Stage Businesses

The Hanover Insurance Group, Inc. has expanded its Business Owner's Advantage insurance product to better serve a wider range of life sciences organizations, specifically targeting early-stage and smaller businesses. This product enhancement builds on the company's existing offerings for mid-sized life sciences operations by addressing the evolving and specialized risks these businesses face. The expansion includes coverage for over 15 new classes of life sciences firms, such as medical device manufacturers, contract research organizations, digital health companies, and pharmaceutical firms. Offered via The Agency Place (TAP) Sales online platform, the solution provides a streamlined, single-carrier approach encompassing both core and specialty coverages. The product integrates multi-line liability coverages, including products-completed operations, errors and omissions, and cyber liability protections, facilitating comprehensive risk management under one policy form known as Hanover Fusion. This strategic development aligns with The Hanover's focus on supporting clients throughout various stages of growth by equipping independent insurance agents with tailored tools and expertise. It reflects the increasing need within the fast-evolving life sciences sector for flexible and specialized insurance solutions that accommodate unique business risks while fostering innovation. For further details on this offering, The Hanover directs insurers and agents to their official website, highlighting their commitment to serving the property and casualty insurance market through independent agents and brokers.