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Blanket Crime Policy
Replaced by the Commercial Crime policy, this represents the broadest coverage possible against crime hazards, written on a package basis under a single limit of liability. It covers the same hazards available on an optional basis under a comprehensive dishonesty, disappearance and destruction policy (e.g., employee dishonesty, loss inside and outside the premises, lost money orders and counterfeit paper currency and depositor's forgery). Please see Blanket Crime Endorsement.
Insurance Industry News from ProgramBusiness.com
New BOP Tool for AgentsThe Hanover Insurance Group, Inc., a leading super regional property and
casualty company, announced that it has introduced a Business Owner's Policy
(BOP) class comparison look-up tool. The tool is designed to help The Hanover's
agent partners quickly and efficiently categorize a small business owner's
industry classification and obtain a quote for the company's Avenues(TM) BOP
faster than ever.
"The new BOP class comparison look-up tool will simplify the quoting process for
our agent partners, saving them precious time and helping them achieve even
greater productivity," said Marita Zuraitis, president of The Hanover's property
and casualty companies. "This tool is yet another example of our commitment to
continuous improvement and to deliver on our promise to provide world class
products and services, while doing whatever it takes to make it easy for agents
to successfully conduct business with us."
The process of classifying a small business for a new policy can be
time-consuming because insurance companies often use different classifications
names for small businesses. The Hanover's BOP class comparison look-up tool
simplifies this process, allowing agents the flexibility to search for an
accurate small business classification using keywords, Standard Industrial
Classification (SIC) codes or North American Industry Classification System (NAIC)
codes.
When obtaining a quote for The Hanover's Avenues BOP agents can now determine
how to classify a small commercial client on the spot.
"The new BOP class comparison tool enables our agency to easily determine
whether a risk can be written by The Hanover and if so, whether it would be
eligible for a BOP or a package, eliminating a lot of back and forth between
agents and underwriters," said Betty Chapin, agency manager for Fred Rhodes and
Co. of Houston, Texas. "By constantly adding features like the BOP class
comparison tool, The Hanover's agent website, The Agency Place, continues to be
a good resource for our agency."
The BOP class comparison look-up tool was launched to complement The Hanover's
fully automated, user-friendly, small commercial platform, which rivals the best
in the business and helps agents easily quote, issue, and endorse BOP,
commercial auto, umbrella, and workers' compensation policies online. To further
meet the needs of our independent agent partners, The Hanover also provides
dedicated Small Commercial Sales Managers, who know the local markets and can
write and bind small commercial business up to $25,000.
The class comparison look-up tool is available to agent partners on The
Hanover's agent resource site, The Agency Place (TAP).
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