Source: Hanover Insurance – Professional Services
Hanover Insurance: Professional Services Insurance Appetite
Hanover's professional services program is one of their strongest offerings. Their E&O covers a wide range of consulting and advisory professions, and the ability to bundle with BOP and cyber makes them a complete solution. Particularly strong for accounting firms, marketing agencies, and management consultants in the Northeast.
Available Lines
| Line of Business |
|---|
| General Liability |
| Business Owners Policy (BOP) |
| Professional Liability (E&O) |
| Workers' Compensation |
| Commercial Auto |
| Cyber Insurance |
| Umbrella/Excess |
Premium Range
$1,000-$8,000
Typical annual premium
Target States
36 states (strongest in Northeast and Mid-Atlantic)
Key Features
- E&O available for consultants, accountants, marketing firms, and similar
- BOP with broad office coverage and business income protection
- Cyber insurance endorsement for firms handling sensitive data
- Employment practices liability available as add-on
- Competitive rates for professional firms in their territory
Limitations
- Attorneys, architects, and engineers need specialty E&O markets
- Not available in 14 states
- Financial advisors and investment managers require separate programs
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