The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
WORCESTER, Mass., Nov. 29, 2012/PRNewswire/ -- The Hanover Insurance Group, Inc., a leading provider of property and casualty insurance nationwide, today announced a $250,000 grant to the Insurance Institute for Highway Safety (IIHS) to help improve safety on the nation's roads. An independent, nonprofit, organization, IIHS is the authority on scientific research and education dedicated to reducing deaths, injuries and property damage from automobile crashes on the nation's roads.
The Hanover's grant will help IIHS to expand its world class Vehicle Research Center to evaluate crash avoidance systems. Crash avoidance systems are among the newest technologies which are increasingly being offered in automobiles today. While these advanced technologies vary in their function and how they operate, they monitor driver input and the environment around the vehicle. In addition, crash avoidance systems use the information they gather to warn drivers when they detect the potential for a collision. They may also brake or steer the vehicle if the driver does not take action to avoid a crash.
"As a leading auto insurer, driver safety is a critical concern for The Hanover. The work the IIHS has done has saved lives and we believe strongly in their mission" said Mark Desrochers, president, personal lines. "We are thrilled to deepen our support of the IIHS. As that organization expands its important research, we hope that our grant will help to make our nation's roads a safer place."
The Hanover's grant will help IIHS to add needed structural elements to the organization's testing facilities to help conduct additional crash avoidance research. These may include an expanded test track, vehicles and test dummies, and dummy carrier systems that are self-propelled and robotically controlled.
"The landscape of in-vehicle technologies is rapidly changing as new features continue to be introduced," said Adrian Lund, president of the IIHS. "Support from The Hanover and other insurance company partners is critical in helping us to advance our research in this emerging area. This increased support demonstrates, once again, that insurers really care and are leading the charge in passenger and vehicle safety."
About the Insurance Institute for Highway SafetyThe Insurance Institute for Highway Safety is an independent, nonprofit scientific and educational organization dedicated to reducing the losses — deaths, injuries and property damage — from crashes on the nation's roads. The Institute is wholly supported by auto insurers. For more information, please visit www.iihs.org.
About The HanoverFounded in 1852, The Hanover Insurance Group, Inc. (NYSE:THG) is proud to be celebrating 160 years of delivering on its promises to its agent partners and their customers. The Hanoveroffers a wide range of property and casualty products and services to businesses, individuals, and families through a select group of agents and brokers, and is ranked among the top 25 property and casualty companies in the United States.
Based in Worcester, Mass., The Hanover Insurance Group, Inc.is the holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester, Citizens Insurance Company of America, headquartered in Howell, Michigan, Chaucer Holdings PLC, based in London, and their affiliates. Through Chaucer, the company underwrites business at Lloyd's of London in several major insurance and reinsurance classes, including property, marine and aviation, energy, U.K. motor and casualty. For more information, please visit www.hanover.com.
Amy BanekMedia Relationsabanek@hanover.com(508) 855-4486
SOURCE The Hanover Insurance Group, Inc.