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The Hanover Seeks to Cut Auto Rates by Up to 30 Percent or More; Shave Three Years Off State's Existing Six-Year Surcharge Period
Date:11/19/2007

ent Nieroda, president of The Hanover's Massachusetts personal lines group. "At last, with these and other changes, drivers in the Commonwealth will gain the benefits that a competitive market gives drivers in every other state - better products, services and pricing. Even though competition is just getting under way and Massachusetts drivers will realize significant savings now, many more benefits will evolve over time, as new companies enter the market, new products are introduced and companies fight for market share."

"The rates and product innovations included in our filing reflect the first of many changes we expect to make as managed competition evolves," he said. "Now, instead of once a year, we can continually adjust our rates and improve our product offerings, as we develop them, just as we do in other markets. This will ensure that we are able to provide our customers with the best value possible."

Nieroda said the company's plans to expand its already strong independent agent distribution channel also will benefit consumers.

"Independent agents have always helped drivers make important insurance decisions," he said. "Now that companies will offer differing products, it is even more important to get the help of an independent agent to make the right choices."

Enhanced Product

Pending approval by the Division of Insurance, The Hanover's new auto product, Connections Auto, will provide broad liability, collision and medical payments coverage, and will help drivers save money by taking advantage of a range of account credits and discounts.

For example, The Hanover will offer deeper discounts for individuals who insure more than one car, drive less than 7,500 miles a year, or successfully complete a driver's education program. The company also will offer a new discount for drivers who take an advanced driver training program, and will offer an account credit for any driver who purchases insurance for his or her cars as well
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SOURCE The Hanover Insurance Group, Inc.
Copyright©2007 PR Newswire.
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