started · updated
Hanover Insurance Group Wins Court Ruling and Reports Record Quarterly Profit
A federal appeals court revived the Crown Falls Area Schools' hail‑damage lawsuit against Hanover American Insurance, a subsidiary of Hanover Insurance Group, ruling that the insurer must reconsider coverage for roof damage that weakens resistance to wind and snow even without a leak. The case returns to a district court for further proceedings.
In the same period, Hanover Insurance Group announced a record second‑quarter net income of $191.6 million, up from $157 million a year earlier, and confirmed its CEO's retirement. Premiums and investment income rose, and catastrophe losses fell, leading to an improved combined ratio of 91.2 %.
Entities
Cannon Falls Area Schools · Hanover Insurance Group · Raymond Gruender