The Hanover Insurance Group Workers' Compensation Insurance

The Hanover Insurance Company traces its history to 1852 and is headquartered in Worcester, Massachusetts. Its parent, The Hanover Insurance Group, Inc., is publicly traded on the NYSE under the symbol THG, with a business built around personal and commercial property-casualty lines sold through independent agencies across the country. On August 14, 2026, AM Best affirmed a Financial Strength Rating of A (Excellent) for Hanover's property-casualty subsidiaries, along with a Long-Term Issuer Credit Rating of a+ (Excellent) for those subsidiaries and bbb+ (Good) for the parent holding company, all with a stable outlook, reflecting the group's balance-sheet strength and business profile.

Hanover has built its business model around independent agents, describing its distribution strategy as agency-focused rather than direct-to-consumer, and it writes workers' compensation as part of a broader commercial-lines portfolio for small and mid-size businesses rather than as a stripped-down, single-line product. This packaged approach means Hanover's workers' comp is often written alongside a business's general liability, property, and commercial auto coverage with the same carrier.

Because Hanover sells exclusively through independent agents, a business cannot obtain a Hanover quote directly from the company; coverage is arranged through a licensed agency, which can present Hanover's workers' compensation program alongside other carrier options and explain how its packaged approach compares with a single-line specialist. Hanover's agency-only model also means its underwriting and service relationships are built around the agent rather than a direct call center or app, which some business owners prefer for ongoing account management, policy changes, and claims support.