The Hanover Enhances Its Offering for Complex Industrial Property Risks

• By: Will Jones
• March 24, 2026

PRODUCT: Hanover Specialty Industrial Property Advantage (HSIP) Advantage

COMPANIES: The Hanover Insurance Group Inc.

BEST RATING: A

AVAILABILITY: Appointed agents and brokers only.

FOCUS: Hanover Specialty Industrial Property (HSIP) Advantage is a new admitted property product designed to modernize insurance coverage for small to midsized businesses that manufacture, blend, distribute, warehouse or transport high-hazard products and materials. It provides coverage for high-hazard, sprinklered property risks that other standard market carriers may avoid or send to the excess & surplus market.

“HSIP Advantage was designed to help our partners better serve their customers, offering a smarter, more adaptable solution for high-hazard property risks,” says James A. Kelley, president of Hanover Specialty Industrial Property, The Hanover. “We’re proud to bring our updated product to market, which reflects our 50-plus years of deep expertise in industrial property, demonstrating our commitment to supporting agents and brokers with innovative tools and resources.”

COVERAGE DETAILS: HSIP Advantage replaces The Hanover’s prior HSIP product offering. Coverage highlights include:

• Building and business personal property coverage. Coverages include: foundations, underground pipes, flues and drains; personal property owned for maintenance or servicing buildings or structures, or for maintaining or servicing its premises; and labor, materials or services furnished or arranged by the business on personal property of others.
• Business income and extra expense coverage. Coverage options to help replace lost income and cover extra costs when a business temporarily shuts down due to a covered loss
• HSIP Advantage broadening endorsement. Twelve broadened coverages and 19 new protections, such as appurtenant structures, non-owned detached trailers and windblown debris
• Amended limits of insurance and deductibles endorsement. Allows for increased limits and deductibles across all locations or at specific locations
• New valuation options. Agreed value and functional building replacement cost to help better protect businesses.

UNDERWRITING: Building must be sprinkler-protected and the typical capacity can be $25 million to $75 million per location. There is a $5,000 minimum deductible and no coinsurance is needed.

MINIMUM PREMIUM: $10,000.

TARGET: Small to midsized businesses that manufacture, blend, distribute, warehouse or transport a wide array of high-hazard products—from cardboard box manufacturing and plastics to explosives and solvents, and everything in between, including coatings and chemicals.

COVERAGE AVAILABILITY: Available in all U.S. states except Alaska, Hawaii and Montana.

CONTACT: James A. Kelley, president of Hanover Specialty Industrial Property, Hanover Insurance Group; 440 Lincoln Street, Worcester, MA 01653; 508-855-2275.

Will Jones is IA editor-in-chief.