Your solution for high-hazard industrial property risks
Discover Hanover Specialty Industrial Property Advantage—your all-new admitted property product for businesses that manufacture, blend, distribute, warehouse or transport a wide array of high-hazard products and materials.
Built with a modular architecture that eliminates complexity and allows for easy customization, this modern offering makes it easy to provide coverage for high hazard, sprinklered property risks that others may avoid or send to the E&S market.
Please note: Hanover Specialty Industrial Property Advantage is not available on an admitted basis in Montana.
You're invited: register for our product launch event now
Our HSIP Advantage event will feature:
A first look at our innovative HSIP product designed for complex industrial property risks.
Hanover leaders discussing market trends, underwriting strategies and risk engineering
Hanover Specialty Industrial Property Advantage at a glance
Admitted solution
with a streamlined product structure and easy to read forms
100% proprietary product
with clear and concise language that articulates coverage intent
Flexible protection
including new coverages and endorsements to address modern and emerging risks
Additional features and benefits
- Straightforward product structure includes a base foundation complemented by a broadening endorsement, optional business income and extra expense coverage forms and more than 60 specialized, countrywide endorsements
- Consistent naming conventions, formatting and sequencing make forms and endorsements easy to navigate
- Robust Definitions Form applies to all forms and endorsements, bringing consistency
- Modular product approach enables fast and seamless updates, which means fewer form changes and less disruption for clients
- Three optional forms for Business Income and Extra Expense Coverage
- Hanover Specialty Industrial Property Advantage Broadening Endorsement broadens 12 coverages and adds 19 new coverages
- Amended Limits of Insurance and Deductibles endorsement tailors protection for specific locations by adjusting limits and deductibles for key coverages in the base coverage form or broadening endorsement
- Additional optional endorsements include Additional Insured – Building Owner, Agreed Value Condition, Business Personal Property In or On Rolling Stock, and many more
Explore the new product structure
HSIP Advantage is a 100% proprietary product, built to fit the unique risks in our underwriting appetite and mirroring our other commercial package policy and Business Owners' Advantage products. That means a familiar structure without generic bureau forms, clunky amendments or patchwork endorsements, making it easier for you to build each policy and explain coverage to clients. Everything is integrated and intentional, yet flexible and adaptable to tailor protection for each business’s unique risks.
It all translates to ease of doing business — helping you work faster with more confidence.
Click on the image below to get a deeper look at the enhanced product structure.
Appetite
We target small to mid-sized companies that manufacture, warehouse, transport, or distribute a wide array of high-hazard products, from cardboard box manufacturing and plastics to explosives and solvents, and everything in between, including coatings, chemicals and much more.
- Target appetite
- Aerosols
- Adhesives
- Ammunition
- Auto parts
- Boat manufacturing
- Building owner — Lessors Risk
- Cabinet manufacturing
- Candle manufacturing
- Chemicals
- Coatings
- Cold storage
- Composites
- Corrugated box manufacturing
- Cosmetics
- Electroplating
- Equipment/assembly
- Explosives storage, manufacturing and distribution
- Fertilizer manufacturing
- Firearms manufacturing
- Fireworks manufacturing and storage
- Fiberglass
- Foam and foam rubber
- Food processing manufacturing and distribution
- Food additives
- Foundries
- Furniture manufacturing
- Heat treating
- Janitorial supplies
- Labs – research and development
- Laminating
- Lithium battery manufacturing and distribution
- Lubricants
- Machine shops
- Matches
- Mattress manufacturing
- Metal manufacturing
- Paper mills
- Paper products
- Pesticides
- Pharmaceutical/nutraceuticals
- Plastic manufacturing
- Printing
- Resins
- Rubber manufacturing
- Shoe manufacturing
- Solvents
- Sporting goods manufacturing
- Synthetic oil packaging
- Tire distribution
- Tire retreading
- Wood products
- Textiles — standard and impregnated
- Third party logistics
- Volatile/combustible metals
- Wood pallet manufacturing
- Wood pellet manufacturing
Product highlights
HSIP Advantage 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
- Typical capacity can be $25 to $75 million per location
- $10,000 minimum premium
- $5,000 minimum deductible
- No coinsurance (agreed amount) needed
- Several blanket coverage options 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.
Click the tabs below to see what's included in the coverage forms and endorsements.
Coverages
- Accounts Receivable
- Appurtenant Structures
- Business Personal Property In Transit
- Business Personal Property Off Premises
- Debris Removal
- Electronic Data Processing Equipment
- Electronic Data - Software Storage
- Extended Coverage on Property
- Fine Arts
- Fire Department Service Charge
- Fungus, Wet Rot, Dry Rot and Bacteria
- Money and Securities
- Newly Acquired Property
- Outdoor Property
- Pollutant Clean-Up and Removal
- Sales Representative Samples
- Valuable Papers and Records
What's changed?
- Broadened Building coverage by providing coverage if not provided by other insurance for additions, alterations or repairs to buildings or structures; and materials, equipment, supplies and temporary structures, on or within 1,000 feet of the described premises, used for making additions, alterations or repairs
- Personal Property owned for maintenance or servicing buildings or structures or its premises
- Foundations, underground pipes, flues and drains is added
- Business Personal Property within 500 feet of the described premises is increased to 1,000 feet
- Labor, materials or services furnished or arranged by you on personal property of others is added
- Physical Damage to leased buildings resulting from "theft" or attempted "theft," burglary or robbery of BPP is added
- Tenant glass coverage is added
- Patterns, dies and molds under contractual responsibility is added
- Tenant sign coverage is added
- Electronic Data Processing Equipment coverage is broadened by defining "computer equipment,” adding Extra Expense provisions and adding coverage for undamaged "hardware" or "software”
- Fungus, Wet Rot, Dry Rot and Bacteria Limited Coverage is broadened by removing the 180-day reporting a loss time period
- Sales Representative Samples coverage is broadened by adding agent and any "employee" and "in transit"
Three optional forms
- Business Income And Extra Expense - Applies to the actual loss of Business Income and Extra Expense that the insured incurs during the period of restoration, as a result of direct physical loss or damage to Covered Property resulting from a Covered Cause of Loss
- Extra Expense - Applies to the necessary Extra Expense incurred by the insured during the period of restoration, as a result of direct physical loss or damage to Covered Property resulting from a Covered Cause of Loss in order to avoid or minimize the suspension of business operations
- Business Income Without Extra Expense - Applies to the actual loss of Business Income that the insured suffers during the period of restoration, as a result of direct physical loss or damage to Covered Property resulting from a Covered Cause of Loss
What's changed?
- New coverage form for Business Income Without Extra Expense Coverage
- Coverage is broadened by amending damage to Business Personal Property from 500 feet to 1,000 feet
- Added Additions or Alterations as a new additional coverage
- Added Denial of Access to Premises as a new additional coverage
- Added a new option for a Coinsurance Condition for Business Income Coverage
- Broadened the Deductibles section of the Business Income and Extra Expense Coverage Form by adding two deductible options, Hourly or Dollar
Coverages
- Accounts Receivable
- Appurtenant Structures
- Back up or Overflow of Sewer, Drain or Sump
- Brands and Labels
- Business Personal Property In Transit
- Business Personal Property Off Premises
- Electronic Data Processing Equipment
- Electronic Data – Software Storage
- Employee Theft including ERISA Compliance
- Employee Tools and Work Clothing
- Expediting Expense
- Extended Coverage on Property
- Fine Arts
- Fire Department Service Charge
- Fire Protection Equipment Recharge
- Forgery or Alteration
- Fungus, Wet Rot, Dry Rot and Bacteria
- Inventory and Loss Appraisal
- Key Replacement and Lock Repair
- Money and Securities
- Money Orders and Counterfeit Money
- Newly Acquired Property
- Non-Owned Detached Trailers
- Outdoor Property
- Paved Surfaces
- Personal Effects
- Pollutant Clean-Up and Removal
- Preservation of Property
- Preservation and Protection of Property – Expense
- Processing Water
- Rewards
- Sales Representative Samples
- Valuable Papers and Records
- Voluntary Parting
- Windblown Debris
What's changed?
- Seven new coverages included:
- Appurtenant Structures
- Fire Protection Equipment Recharge
- Money Orders and Counterfeit Money
- Non-Owned Detached Trailers
- Personal Effects
- Processing Water
- Windblown Debris
- Electronic Data Processing Equipment is broadened by:
- Removing the 1,000 feet restriction
- Adding coverage for undamaged "hardware" or "software”
- Defining "computer equipment”
- Adding Extra Expense provisions and
- Rewards coverage is broadened by adding vandalism as a covered cause of loss
- Sales Representative Samples coverage is broadened by adding agent and any "employee, in your custody and "in transit”
Our new Amended Limits of Insurance and Deductibles endorsement allows greater flexibility for making changes to limits of insurance and deductibles for the additional coverages and coverage extensions that are in the Building and Business Personal Property Coverage Form and the Hanover Specialty Industrial Property Advantage Broadening Endorsement. The endorsement allows increased limits and deductibles at all locations or only at specific locations on a per limit or deductible basis.
Additional notable optional coverages and endorsements include:
- Additional Insured – Building Owner – addresses the interest of a building owner when the insured is a tenant required to insure the leased building
- Additional Property Not Covered – amends Property Not Covered, excluding specifically described property
- Agreed Value Condition – amends the valuation of covered property to agreed value
- Business Income And Extra Expense From Dependent And Interdependent Properties Coverage Endorsement – covers income loss and extra expenses if a business the insured relies on—like a supplier, buyer or partner—suffers property damage that disrupts the insured’s operations
- Business Personal Property In Or On Rolling Stock Coverage Endorsement – extends Business Personal Property coverage to include damage or loss to property on rolling stock like trains or railcars within 1,000 feet of the listed location
Contact us to learn about additional endorsements available to your clients.
Coverages
- Accounts Receivable
- Appurtenant Structures
- Business Personal Property In Transit
- Business Personal Property Off Premises
- Debris Removal
- Electronic Data Processing Equipment
- Electronic Data - Software Storage
- Extended Coverage on Property
- Fine Arts
- Fire Department Service Charge
- Fungus, Wet Rot, Dry Rot and Bacteria
- Money and Securities
- Newly Acquired Property
- Outdoor Property
- Pollutant Clean-Up and Removal
- Sales Representative Samples
- Valuable Papers and Records
What's changed?
- Broadened Building coverage by providing coverage if not provided by other insurance for additions, alterations or repairs to buildings or structures; and materials, equipment, supplies and temporary structures, on or within 1,000 feet of the described premises, used for making additions, alterations or repairs
- Personal Property owned for maintenance or servicing buildings or structures or its premises
- Foundations, underground pipes, flues and drains is added
- Business Personal Property within 500 feet of the described premises is increased to 1,000 feet
- Labor, materials or services furnished or arranged by you on personal property of others is added
- Physical Damage to leased buildings resulting from "theft" or attempted "theft," burglary or robbery of BPP is added
- Tenant glass coverage is added
- Patterns, dies and molds under contractual responsibility is added
- Tenant sign coverage is added
- Electronic Data Processing Equipment coverage is broadened by defining "computer equipment,” adding Extra Expense provisions and adding coverage for undamaged "hardware" or "software”
- Fungus, Wet Rot, Dry Rot and Bacteria Limited Coverage is broadened by removing the 180-day reporting a loss time period
- Sales Representative Samples coverage is broadened by adding agent and any "employee" and "in transit"
Product resources
Let's start a conversation today
Whether you’re looking to carve out a single building to maintain optimum pricing or seeking coverage for multiple buildings across multiple locations, our team of dedicated risk engineers and underwriters can tailor a HSIP Advantage solution to meet each client’s unique needs.
Contact us to get started.
Cindy Giuliani
Vice President, Property Underwriting and Strategy
cgiuliani@hanover.com
508-855-2310
Courtney Brewer
Underwriting Director
cbrewer@hanover.com
508-855-5908
Nicole Ragsdale
Underwriting Director
nragsdale@hanover.com
240-638-5742
Hanover Specialty Industrial Property is a marketing name of The Hanover Insurance Group, Inc. All products are underwritten by The Hanover Insurance Company, Verlan Fire Insurance Company or one of their insurance company subsidiaries or affiliates. Coverage may not be available in all jurisdictions and is subject to the company underwriting guidelines and the issued policy. This material is provided for informational purposes only.
Copyright 2025 The Hanover Insurance Company, all rights reserved.