2020 Small Business Risk Report
Hanover Small Commercial

Critical findings

Taking a deeper look

Spurred primarily by rate increases, small business owners are taking more active interest than ever in understanding their insurance plans. And, they understand that breadth of coverage should be their highest priority, even above price. However, this hasn't made them more likely to review their coverage annually. Independent agents continue to play a critical advisory role in helping tailor the right protection plan.


who experienced a rate change reported concern about more regularly evaluating their entire insurance policy


agree that the advice from an agent is critical to their insurance decisions 


haven't reviewed their coverage in the last 12 months

Only 2%

reported buying their insurance online

Small businesses are expressing increased interest in knowing what their insurance policies cover, and how to best protect against an ever changing set of risks. The role of the independent agent is critical in not only helping these businesses find the right coverage — but helping them understand the need for it.

Mike Keane, Senior Vice President and President Core Commercial