The Hanover Insurance Launches New Ocean Cargo Product

Jan 12, 2010 (Datamonitor via COMTEX) -- The Hanover Insurance Group, a provider of property and casualty insurance, has announced the availability of enhanced ocean cargo protection, backed by specialized underwriting, claims and loss control capabilities.

According to the company, this new product provides worldwide coverage on goods in transit via vessel, air or land, including coast-wise and inter-coastal shipments. It can be customized to meet many cargo insurance needs, including inland transit, warehousing, processing, exhibitions, and sales samples.

The Hanover's new ocean cargo product offers protection for: concealed damages; worldwide inland transit; goods insured; non-delivery; broken lots and size ranges; control of damaged goods/right of first refusal; storage coverage; mysterious disappearance; duty clause; wind, flood and earthquake.

Jane Sharfstein, vice president for ocean marine at The Hanover Insurance Group, said: "Today we live in a truly global economy, where more and more US businesses are seeking new customers and suppliers beyond our own shores. Whether these goods are being transported by vessel or air, they need coverage and that is where ocean cargo comes in."

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