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Carrier Offers ERISA Bonds Through Web

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Hanover Insurance Group Inc. says it will be using a streamlined process to sell products to protect employee benefit plans against losses caused by fraud and dishonesty committed by plan trustees.

Hanover Insurance Group Inc., Worcester, Mass., says it will be selling the products, Employee Retirement Income Security Act bonds, through the company’s Web-based BONDirect bond sales system.

Independent agents can use the service to get issue ERISA bonds within minutes, Hanover says.

Agents who book bond business through the site can arrange for Hanover to bill the clients directly, Hanover says.