The Hanover Insurance Group does a lot of business in Oklahoma and plans to keep it that way. Responding to an Insurance Journal article that inaccurately reported the company was pulling out of the state, The Hanover said that was not true.
“We have not withdrawn from the Oklahoma market,” said company spokesperson Mike Buckley. “We are still actively writing P&C business in Oklahoma.”
The company has strong relationships with agents in Oklahoma, Buckley said. As part of its distribution strategy, however, The Hanover “sometimes terminates relationships with agents who don’t write meaningful volumes and who are not strategically aligned,” he said.
The company is committed to profitable growth in its property/casualty business in Oklahoma with its strategic agent partners there, Buckley said.
In a letter to Insurance Journal, James Greising, vice president of marketing for The Hanover, said the company “has a long, proud history of serving our agent and broker partners and their customers in Oklahoma, and we fully intend to maintain a significant presence in the state.”
Greising added: “Our organization distributes its products and services exclusively through independent agents. As part of our commitment, we are an active member of the Big I nationally, and in Oklahoma, and we intend to continue our strong association in support of independent agents and brokers.”
Insurance Journal regrets the error in the previous published article, “Oklahoma’s Natural Disasters Take Their Toll on Insurance Industry,” which has since been pulled off the site.