The Hanover broadens life sciences solutions for small businesses

The Hanover Insurance Group, Inc. has expanded its Business Owner’s Advantage product to meet the evolving needs of the life sciences industry.

The expanded suite is designed for early-stage and smaller businesses, offering customised coverage for a wide range of life sciences organisations.

Available through The Agency Place (TAP) Sales, the company’s online quoting and issuance platform, Business Owner’s Advantage provides a streamlined, single-carrier approach for writing both core and specialty coverages.

The expansion introduces more than 15 new classes of life sciences organisations, including medical device manufacturers, contract research organisations, digital health companies, and pharmaceutical firms. This enables The Hanover’s agent partners to offer coverage that evolves with their customers’ needs.

Charles F. Hamann, president, small commercial at The Hanover, said, “This expansion reflects our commitment to supporting specialized small businesses with tailored insurance solutions.

“Our enhanced offering helps smaller firms – including those still in the research and development phase – navigate evolving risks with the protection and flexibility they need to thrive.”

The product features tailored coverage enhancements, efficient online quoting and issuing through TAP Sales, and support from dedicated specialised underwriters — all designed for early-stage and smaller life sciences firms.

Toni E. Mitchell, president, technology and life sciences at The Hanover, added, “The life sciences sector evolves at a rapid pace, and organizations are facing increasingly sophisticated risks.

“With this expansion, we’re equipping our agent partners with the tools and expertise needed to deliver meaningful protection and guidance to their clients, helping these businesses to stay focused on advancing innovation while we help safeguard their progress.”