Insights
With Jewelry Theft on the Rise — Here’s What Agents Need to Know
Jewelry may symbolize love and legacy, but for thieves, it represents opportunity. According to a recent article, claims for high-end jewelry theft have surged by a staggering 43%, with opportunists growing bolder and more strategic in their attempts to snatch luxury watches, diamond rings, and bespoke heirlooms. These aren’t isolated incidents or smash-and-grab jobs. The high-net-worth claims data from 2022 and 2023 includes everything from muggings in public to...
The Importance of Insurance for Allied Health Professionals
Allied health professionals comprise more than 60% of the healthcare workforce, accounting for over 7 million workers in just the U.S alone. From physical therapists to urgent care staff, these professionals meet the rising demand for healthcare services, especially as the population ages. With the allied health sector projected to grow by 13%...
Beyond Basics: Insurance for Adult Care Facilities
As the baby boomer generation continues to redefine what it means to age, the landscape of adult residential care is evolving in ways that might have seemed unimaginable just a few decades ago. Remember how the “Golden Girls” lived together in that iconic Miami home, balancing independence with the support of close friends? Today’s adult...
How Chip Gaines Spotlights the Need for Artisan Contractors Insurance
When you think of home renovation and the art of transforming a space, Chip Gaines, along with his wife Joanna, likely comes to mind. As one of the stars of HGTV’s Fixer Upper, Chip has helped introduce a broad audience to the skills, expertise, and professionalism of construction contractors. While he functions as a general contractor on the...
Rooting Out Risks: Shielding Clients from Landscaping’s Hidden Dangers
Landscaping is more than just enhancing outdoor spaces — it’s about creating environments where people can relax, play, and connect with nature. As the industry grows, so do the opportunities for landscapers to expand their services and build thriving businesses. However, growth comes with unique challenges that require careful planning and...
MiniCo Recognized as a 5-Star Program Administrator by Insurance Business America
MiniCo has been recognized for the fourth year in a row by Insurance Business America in its annual report highlighting the industry’s best in program administration. MiniCo Insurance Agency (MiniCo), a Jencap company, has been recognized for the fourth consecutive year as a 5-Star Program Administrator as part of Insurance Business America’s...
Compounding Disasters Cause Compounding Premiums
A megatsunami, flood, volcanic eruption, and earthquake hit Earth in rapid succession, causing worldwide destruction. While this scenario is the fictional plot of the film 2012, today you would be forgiven for assuming that it’s a current headline. A recent report from the National Academies sheds light on the growing threat of compounding...
Coverage Alert: Miscellaneous Professional Liability Insurance
Businesses that provide professional services require liability coverage, and some professions have access to programs tailored specifically to their industry, such as architects, engineers, lawyers, and legal professionals, medical professionals, and contractors. For many other categories, the effective solution is miscellaneous professional...
The 411 on Architects and Engineers Professional Liability Insurance
In the intricate, high-stakes world of architecture and engineering, every blueprint drawn and calculation made carries immense responsibility. Professionals in these fields face unique risks that require specialized protection. Whether you’re catering to architects designing skyscrapers or engineers developing innovative infrastructure,...
Understanding Equine Liability Coverage: Protecting Horse-Related Operations
If your client roster includes commercial agribusiness, farm and ranch clients, or equine operations, you understand the unique risks involved in operating a business that involves horses. If you’re new to these risks, be assured that the equine world is full of opportunities for insurance agents — and comes with its own stable of risks. Read on...
Preservation Tips for Autographed Memorabilia
Preservation is a critical concern for collectors of autographed memorabilia. The longevity of these valuable items depends not just on the quality of the signature but also on how well the items are cared for over time. In a recent article published by Intelligent Collector, James Appleton, MiniCo’s Director of Program Sales, discusses key...
The Growing Challenge of Insuring Agribusiness Risks
From geographic challenges to the ever-present threat of catastrophic weather, agribusinesses today face an increasingly tough landscape when securing property coverage. If you’re seeking solutions for clients in the agribusiness sector, you don’t have to go it alone. Partnering with an experienced program administrator with specialized...
Extreme Weather: When Farmers Need More Than a Raincoat
If you’re working with clients in the farming industry who are struggling with extreme weather challenges, empathy and information go a long way. Farming has always been a delicate dance with the outdoors, but Mother Nature has recently added unpredictable twists. These weather disruptions not only throw planting schedules into disarray but also...
MiniCo Insurance Named Best of Business in Self-Storage Commercial Insurance for 13th Year
For the thirteenth consecutive year, MiniCo has claimed the top spot in self-storage commercial insurance. MiniCo Insurance (MiniCo), a Jencap company, has been selected by readers of Inside Self-Storage magazine as a Best of Business winner in the category of best commercial insurance for the thirteenth consecutive year. “It is an honor to be...
Navigating the 2024 Wildfire Season
As we approach the heart of the 2024 wildfire season, property owners and insurance agents face unprecedented challenges. The increasing frequency and intensity of wildfires and other extreme weather events are putting significant pressure on the property insurance market. Let’s look at the current wildfire outlook, its impact on the insurance...
Managing Professional Liability in a Changing Market
Navigating the world of professional liability insurance can feel daunting, especially in today’s turbulent market. With rising premiums, increased scrutiny, and ever-evolving risks, staying ahead of the curve is more challenging than ever. However, understanding these dynamics and leveraging the right insurance solutions can help make all the...
The Impact of Nuclear Verdicts on Small Legal Practices: A Guide for Insurance Agents
In 2023, Bayer AG faced a staggering $2.2 billion verdict over its Roundup weedkiller, contributing to record-setting numbers. These monumental awards, known as nuclear verdicts, pose a significant threat to businesses of all sizes. But how do these types of verdicts affect the law firms involved? In this blog, we’ll explore what nuclear verdicts...
The Ultimate Guide to Lawyers Professional Liability Insurance
As an insurance agent, you know that legal professionals face unique risks every day. Your clients depend on you to help them navigate these complexities and secure the best coverage. Professional liability insurance isn’t just a safety net; it’s a critical part of practicing law. Let’s explore the options for Lawyers Professional Liability (LPL)...
Bridging the Gap: Customized Policy Solutions for Emerging Nonprofit Needs
Nonprofit organizations are the unsung heroes of our communities, tackling society’s biggest challenges and providing essential services. However, running a nonprofit comes with unique operational, financial, and legal hurdles that for-profit businesses don’t face. One significant challenge is finding the right insurance coverage. The Unique Risk...
Leveraging Risk Management Resources for Nonprofit Organizations
Nonprofit organizations play a pivotal role in our society, addressing crucial issues ranging from social welfare to environmental conservation. However, managing a nonprofit involves navigating a maze of risks that can threaten its mission, resources, and public trust. Effective risk management for nonprofits is not just about protection. It...
Navigating New Horizons: Future Challenges for Nonprofits
The nonprofit sector is constantly evolving, and with this evolution comes many new challenges. From embracing digital transformation to navigating increased regulatory pressures and adopting innovative insurance solutions, nonprofit organizations must stay agile and proactive. As their agent, you can help them prepare for the future. Be the...
Floods and Electrical Safety
Over the past five years, all 50 states have experienced floods or flash floods, and, on average, more deaths occur due to flooding each year than any other weather-related hazard. Safety precautions during floods should include considerations for electrical safety. Guidance from the Electrical Safety Foundation International (ESFI) includes the...
Electrical Safety in Older Buildings
Workplace injuries and fatalities related to electricity totaled over 2,060 in 2019 according to the Electrical Safety Foundation International (ESFI). Last week, we discussed the organization's tips including overtaxed wiring prevention, extension cord safety, and ground-fault circuit interrupter usage. The EFSI has two additional tips regarding...
Electrical Safety Checklist
According to the Electrical Safety Foundation International (ESFI), there were 166 workplace fatalities and 1,900 non-fatal workplace injuries related to electricity in 2019. To increase electrical safety awareness and prevent electrical fires and electrocutions, the ESFI offers the following tips. Don't Overtax Wiring: Avoid overloading power...
Safety After a Tornado
Once a tornado has passed, it is important that you take steps to stay safe while navigating the debris and damage left behind. Here are some tips to keep in mind. Get Help Cover your mouth with a cloth to avoid breathing dust. If you are trapped, try to send a text, bang on a pipe or wall, or use a whistle to summon help. If you are not...
Surviving a Tornado
Do you and your self-storage employees know what to do if a tornado strikes? Here are tips to help survive during a tornado. Find Safe Shelter Evacuate employees and customers to the closest safe shelter. Take Additional Cover Shield your head and neck with your arms and surround yourself with items such as furniture, blankets, or mattresses....
Tornado Warnings
Forecasters are predicting an active tornado season, so it is important for self-storage businesses to be prepared. Tornadoes can destroy buildings, flip cars, and create hazardous flying debris, and they can happen anywhere at any time. If you are under a tornado warning, follow these important steps. Inside: Go to a safe room, basement, storm...
Hail Season and Your Roof
Hail storms can cause catastrophic damage to self-storage facilities and often result in repairs or replacement of the entire roof or the damaged portions of the roof. For property owners in areas prone to hail storms, this is an expected, if decidedly unwelcome, potential peril. Here are some recommendations to help protect your facility from...
Hail Season Preparation
The impact that catastrophic hail and wind events have had on property owners and the insurance industry would be difficult to overstate. The National Oceanic and Atmospheric Administration (NOAA) recorded 4,611 major hailstorms in 2020. Those storms affected more than 6.2 million properties in the U.S. resulting in losses of nearly $14.2 billion...
Vehicle Breakdowns in Winter Weather
It's cold, there's snow and ice on the roads, and your vehicle has left you stranded. What should you do next? Here are some tips to stay safe until help arrives: · Before departing, consider your route. If you're going to be traveling through an area with limited cell phone coverage, be sure to let someone know when and where you'll be driving....
Driving in Winter Weather
Before heading out on the roads during winter months, it's important to be prepared to drive safely for specific road and weather conditions. Here are some tips: · Prior to departing, clear snow and ice from your car including the windshield, windows, mirrors, lights, reflectors, hood, roof, and trunk. · Keep your headlights on while driving to...
Check the Forecast Before Driving in Winter
The U.S. Department of Transportation estimates nearly one in four weather-related vehicle crashes involve winter weather conditions. Checking the weather forecast before heading out on wintry roads is an important way to reduce risk. Here are some tips: · If the forecast calls for nasty winter weather, staying put may be the safest decision. ·...
Securing a Snow-Removal Company
Winter weather brings colder temperatures, which often mean snow and ice. At a self-storage facility, snow and ice can mean slippery walkways, wet floors, and roofs that need to be cleared of snow accumulation. Consider contracting with a reputable, insured, and licensed snow-removal company. These companies contract with businesses to remove...
Preparing Your Vehicle for Winter Driving
Winter weather can make driving hazardous. According to the U.S. Department of Transportation, nearly one in four weather-related vehicle crashes involve snow, slush, or icy roads. One important way to reduce risk when driving during winter weather is to prepare your vehicle in advance. Here are some tips: Assemble a winter survival kit and keep...
Minimize Holiday Stress with Customer Service
The holiday season is a joyful time, but it can also be stressful. The combination of holiday expenses and obligations, foul weather, cold and flu season, financial pressures, and end-of-the-year work deadlines can get the best of anyone at one time or another. Factor in the ongoing coronavirus pandemic, and this holiday season may be even more...
Reporting Claims
If your self-storage property has suffered damage due to a storm, fire, or other event, it is important to file an insurance claim quickly. It is equally important to provide complete information in your claim report. This will enable your insurance agent and insurance company to process your claim as quickly as possible. Claim reporting...
What is a Man-In-The-Middle Attack?
In order to protect your self-storage operation from cybercrime, it helps to understand the most common threats and tactics used by cybercriminals. This week's topic is man-in-the-middle attacks. What is a Man-In-The-Middle Attack? Also known as an eavesdropping or hijacking attack, a man-in-the-middle, or MITM, attack lets hackers secretly put...
What is Ransomware?
In order to protect your self-storage operation from cybercrime, it helps to understand the most common threats and tactics used by cybercriminals. This week's topic is ransomware. What is Ransomware? Ransomware is a type of malicious software designed to block access to a computer system or computer files until a sum of money is paid. It freezes...
What is Phishing?
In order to protect your self-storage operation from cybercrime, it helps to understand the most common threats and tactics used by cybercriminals. This week's topic is phishing. What is Phishing? Phishing is the preferred tool of cybercriminals, accounting for 93 percent of all breaches, which are...
What is Malware?
In order to protect your self-storage operation from cybercrime, it helps to understand the most common threats and tactics used by cybercriminals. This week's topic is malware. What is Malware? The word "malware" is a shortened version of the term “malicious software.” Malware works by infecting a computer to...
What is a Password Attack?
In order to protect your self-storage operation from cybercrime, it helps to understand the most common threats and tactics used by cybercriminals. This week's topic is password attacks. What is a Password Attack? A password attack often uses an automated system in which different password combinations are used to try to gain...
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