The Hanover has filed updates to its Bankers Advantage program in Georgia, introducing new non rate bearing endorsements and underwriting refinements with no impact on policyholder premiums.

The filing, acknowledged by state regulators, applies to Hanover’s SP Financial Institutions product and is effective March 1, 2026 for both new and renewal business. Hanover confirmed the overall rate impact of the update is neutral, with no change to written premium or affected policyholders.

The update centers on revisions to the program’s ownership modifier within Directors and Officers liability coverage. Hanover is expanding the modifier to introduce new categories for publicly traded banks, differentiating risk based on listing status and shareholder count. Under the revised structure, publicly traded banks listed on major exchanges face higher ownership factors as shareholder counts increase, reflecting governance complexity and exposure considerations.

In addition to the ownership modifier changes, Hanover added several optional and conditional endorsements to the Bankers Advantage form set. These include enhancements addressing acquisition related claims, asset protection expenses tied to regulatory enforcement actions, books and records demands, and refined treatment of securities claims for public banks. The filing also clarifies exclusions related to securities offerings, with targeted carve backs in limited circumstances.