Industrial property from The Hanover
For more than 50 years, The Hanover has underwritten sprinklered property coverage for businesses that manufacture, blend, distribute, warehouse or transport a wide array of high-hazard products and materials—from chemicals and lessor’s risk, to plastics and textiles, and everything in between.
While most standard market carriers avoid or approach this business with caution, Hanover Specialty Industrial Property (HSIP) has made complex industrial property our sole focus. Our entire team is focused on creating tailored protection plans that address each business’ unique risks while delivering a higher level of service and attention.
Unique approach for unique risks
Our customized approach begins with a comprehensive review of property exposures via phone survey with a senior loss control engineer. This provides our underwriters and property engineers with an intimate understanding of each risk, allowing them to draw on their expertise to make reasonable and helpful program recommendations. Our best-in-class underwriters and property engineers have deep and meaningful knowledge of complex manufacturing processes and stay current on changes to National Fire Protection Association (NFPA) codes through active NFPA committee participation.
Throughout the life of the policy, our property engineers are available to provide personalized services such as inspections, sprinkler test reviews, new building or system upgrade specifications reviews and more, to help minimize risk.
Target appetite
- Aerosols
- Adhesives
- Auto parts
- Boat manufacturing
- Building owner — lessors risk
- Cabinet manufacturing
- Chemicals
- Coatings
- Composites
- Corrugated box manufacturing
- Cosmetics
- Electroplating
- Equipment/assembly
- Fiberglass
- Foam, foam rubber
- Food additives
- Furniture manufacturing
- Heat treating
- Janitorial supplies
- Laminating
- Lubricants
- Machine shop
- Matches
- Mattress manufacturing
- Pesticides
- Plastic manufacturing — all types
- Printing
- Resins
- Rubber manufacturing — all types
- Shoe manufacturing
- Small arms manufacturing
- Solvents
- Sporting goods manufacturing
- Synthetic oil packaging
- Tire distribution
- Wood products
Acceptable appetite
- Candle manufacturing
- Explosives
- Fertilizer manufacturing
- Fireworks storage
- Food processing — spray drying
- Labs
- Paper products
- Pharmaceutical/nutraceuticals
- Re-capping — various
- Textiles — standard and impregnated
- Volatile/combustible metals
Unavailable
- Battery recycling
- Biodiesel
- Ethanol
- High non-sprinklered values of any occupancy
- Pallet manufacturing
- Petrochemicals
- Power generation
- Recycling
- Refineries
- Vacant buildings
- Wood particle board
- Wood pellet manufacturing
The HSIP offering was specially designed to be a reliable solution for businesses of all sizes with unique risk characteristics that require increased protection due to high fire loads or potentially volatile manufacturing processes.
Product offering
- Admitted policy written on Hanover/Verlan A-15 paper
- Non-admitted policy offered through Hanover Specialty Insurance Brokers (HSIB), our in-house excess and surplus brokerage
- Typical capacity can be $25 to $75 million per location
- $10,000 minimum premium
- $5,000 minimum deductible
- No coinsurance (agreed amount) needed
Key coverage features
- Coverage for “all risks” of direct physical loss or damage
- Property valued at replacement cost
- Finished goods manufactured by the insured valued at selling price
- Debris removal included as part of the building and personal property limit without a separate debris removal sublimit
- Separate pollution limit for cleanup
- Coverage for foundations, slabs and underground piping
- Business income form includes extra expense and rental value
- Earthquake sprinkler leakage provided as an additional covered peril within the policy limits at no additional cost
- Optional equipment breakdown offering includes microelectronics coverage
- Broadening endorsement that extends 14 coverages and adds 18 coverages
- Sublimits available
Policy flexibility
We can offer policies for both single and multiple locations and leverage our flexible array of coverages to customize a solution to meet the unique needs of each client. We can also offer monoline opportunities and split policies for multi-location schedules.
Plus, we're able to carve out properties written on a middle market policy to help maintain optimum pricing.
Additional coverage options
In addition, The Hanover offers commercial and specialized products that offer enhanced protection and enable total account solutions, such as:
We are committed to industrial property risks through all market cycles, helping you retain accounts and win new business when market disruption occurs. Unlock the Hanover advantage.
Commitment to the market
A long-term commitment to the industrial property space, with a special understanding of industry issues
High-hazard specialization
Allows us to provide quick turnaround, attractive terms, and competitive premium for industrial property risks
Dedicated team
Engineers, underwriters and insurance professionals who are highly skilled at tailoring insurance solutions for industrial facilities
Property expertise
Our team of property engineers provides inspections, sprinkler test reviews, new building or system upgrade specifications and more for sprinklered property policyholders
Account solutions
We coordinate the placement of other lines with other Hanover teams
Financial strength
“A” ratings from A.M. Best, S&P and Moody's
Target appetite
- Aerosols
- Adhesives
- Auto parts
- Boat manufacturing
- Building owner — lessors risk
- Cabinet manufacturing
- Chemicals
- Coatings
- Composites
- Corrugated box manufacturing
- Cosmetics
- Electroplating
- Equipment/assembly
- Fiberglass
- Foam, foam rubber
- Food additives
- Furniture manufacturing
- Heat treating
- Janitorial supplies
- Laminating
- Lubricants
- Machine shop
- Matches
- Mattress manufacturing
- Pesticides
- Plastic manufacturing — all types
- Printing
- Resins
- Rubber manufacturing — all types
- Shoe manufacturing
- Small arms manufacturing
- Solvents
- Sporting goods manufacturing
- Synthetic oil packaging
- Tire distribution
- Wood products
Acceptable appetite
- Candle manufacturing
- Explosives
- Fertilizer manufacturing
- Fireworks storage
- Food processing — spray drying
- Labs
- Paper products
- Pharmaceutical/nutraceuticals
- Re-capping — various
- Textiles — standard and impregnated
- Volatile/combustible metals
Unavailable
- Battery recycling
- Biodiesel
- Ethanol
- High non-sprinklered values of any occupancy
- Pallet manufacturing
- Petrochemicals
- Power generation
- Recycling
- Refineries
- Vacant buildings
- Wood particle board
- Wood pellet manufacturing
Product resources
Total Hanover solution
Offer clients an account-focused solution by including industrial property coverage as part of a specialized industry solution offering.
Let's start a conversation today
Contact a member of the Hanover team to learn more about our industrial property solutions.
Mitchel Combe
Regional Distribution Manager
AZ, CO, KS, MO, NM, NV, UT
801-243-6768
mcombe@hanover.com
Alissa Menicucci
Regional Distribution Manager
CA
707-810-4737
amenicucci@hanover.com
Matt Brady
Regional Distribution Director
NJ, NY, PA
732-371-5640
mbrady@hanover.com
Temy Clemons
Regional Distribution Director
AL, FL, GA, MS, NC, SC, TN
718-290-0435
tclemons@hanover.com
Justen Morrow
Regional Distribution Director
IN, KY, MI, OH
616-322-6202
jumorrow@hanover.com
Pete Hamm
Regional Distribution Director
DC, DE, MD, VA, WV
804-349-9432
phamm@hanover.com
Stacey Hinterlong
Regional Distribution Director
IA, IL, MN, ND, NE, SD, WI
shinterlong@hanover.com
Becky McLaughlin
Regional Distribution Director
CT, MA, ME, NH, RI, VT
857-296-2185
rmclaughlin@hanover.com
All products are underwritten by The Hanover Insurance Company or one of its insurance company subsidiaries or affiliates. Coverage may not be available in all jurisdictions and certain coverage may be provided by an eligible surplus lines insurer and procured only by a properly-licensed surplus lines broker. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. This release is designed to provide general information for insurance professionals only and does not constitute an offer to sell or a solicitation of insurance. Any inquiries regarding the subject matter should be directed through licensed insurance professionals. Please refer to the actual policy issued for complete details of coverage and exclusions. For more information about The Hanover visit our website at www.hanover.com. Hanover Specialty Insurance Brokers, Inc. CA License # 0759293 NY License # EX-530458-R