KayAgent Newsletter: October 2019

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Sport & activity insurance

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Key Agent Newsletter
October 2019
Did You Know...? MiniCo's insurance solutions are now included in the IVANS Markets online directory.

Cyber Insurance for Small and Medium-Sized Businesses

Cyber InsuranceSmall and medium-sized businesses are increasingly vulnerable to the risk of cyberattacks and data breaches, but many owners underestimate the threat. Business owners may not fully understand the growing risk of cybercrime or the important role that cyber insurance can play in mitigating the potentially costly impact of a cyberattack.

When cybercrime makes the news, the story tends to be about large businesses. This may be one reason why small and medium-sized businesses are less aware of and less prepared for cyberattacks. The reality is that these companies should be very concerned about cybersecurity. Small and medium-sized businesses are squarely in the crosshairs of cybercriminals, and owners need to get serious about protecting their systems and information. Recent industry studies and surveys indicate that the risk of a costly breach is very real.

• Average cost of a ransomware attack: $5 million
• Average time for organizations to identify data breaches: 191 days
• Top security threat identified by IT professionals: targeted phishing attacks
• Volume of malware delivered by email: 92%

The growing risk of data breach has spurred legislative action in California, which recently passed several amendments to the California Consumer Privacy Act (CCPA), and other states are expected to follow suit. One of the effects of these laws is to impose notification requirements on businesses that collect and store private customer information. It is vital that your insurance clients understand and comply with applicable privacy laws.

MiniCo Insurance Agency offers cyber insurance products for small and medium-sized businesses that address security and privacy liability, crisis-management costs, data recovery and loss of business income, regulatory defense and remediation costs, and cyber extortion. No supporting accounts are required, and premiums are competitive. For more information including a premium indication, contact Rob Novak at 800-528-1056, ext. 3535, or rnovak@minico.com.

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Equipment Breakdown Insurance for Older Buildings

Equipment Breakdown Insurance for Older BuildingsMaintaining and upgrading older buildings are important topics for professionals in a wide range of industries including self-storage, supermarkets, multi-family housing, schools, hotel/motel, warehousing, multi-level office facilities, shopping malls, churches, and many others.

Monoline equipment breakdown insurance is a vital protection for all commercial businesses and of particular importance for operations with older buildings and facilities. In the event of a catastrophic failure, equipment breakdown insurance can play a deciding role in whether a business is able to recover and continue operations.

MiniCo Insurance Agency offers an equipment breakdown insurance program to provide monoline coverage for commercial properties to protect critical business equipment. The program is underwritten by MiniCo's carrier partner Liberty Mutual Insurance Company, which has been rated "A" (Excellent) by A.M. Best.

Program features include:
• No age limitation for buildings or equipment
• Wide range of eligible commercial classes
• Jurisdictional inspection engineering services included at no cost
• No appointment required to get a quote
• No supporting accounts required
• Nationwide availability

For more information, contact Rob Novak at 800-528-1056, ext. 3535, or rnovak@minico.com. A brief video outlining detailed program information is available on MiniCo's website.

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Find MiniCo on IVANS Markets

minico ivans
MiniCo is pleased to announce that we are now available on IVANS Markets. Digital platforms have become the standard across the insurance industry, and we rely on digital communications for their ability to provide immediate, current information to our valued agent partners.

MiniCo President and CEO Mike Schofield recently sat down with IVANS Communications to discuss the company's use of this important technology. Read the full conversation at the link below or on the IVANS blog.

Read the Post




10851 N. Black Canyon Highway, Suite 200
Phoenix, AZ 85029
California License # 0H04984

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All rights reserved.

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