Insights
MiniCo Recognized as a 5-Star Program Administrator by Insurance Business America
MiniCo has been recognized by Insurance Business America in its annual report highlighting the industry’s best in program administration for the fifth consecutive year. MiniCo Insurance Agency (MiniCo), a Jencap company, has been recognized as a 5-Star Program Administrator for the fifth consecutive year as part of Insurance Business America’s annual 2025 5-Star Carriers and Program Administrators report highlighting the best in the industry. Program administrators...
Meeting the Growing Need for Expert Self-Storage Insurance
The self-storage industry has grown rapidly in the past several years, reaching an estimated market value of $44.37 billion, outpacing many other notable companies like Aflac, General Mills, Humana, and even 7-Eleven. The reason? People love their stuff — and they don’t want to part ways with it. According to Josh Leykam, MiniCo Vice...
Decoding Specialty BOPs: Tailored Insurance to Mitigate Self-Storage Risks
Most business owners understand the importance of having the right general liability (GL) insurance. What they may not know is that their GL policy isn’t all-inclusive and doesn’t provide protection for losses associated with business personal property as well as other critical coverages. A business owner’s policy (BOP) is an effective option for...
Collection Preservation: The Collector’s Path to Peace of Mind
From rare artwork to wine to unique memorabilia, the world of collecting is both varied and ever-evolving, demanding a strategic approach to collection preservation. A collector’s worst fear is damage to or loss of a priceless, irreplaceable item or collection. For the savvy collector, implementing effective risk mitigation and preservation...
The Art of Restoration with Specialty Insurance
When most collectors think of fine arts insurance, they may imagine disasters brought on by major events like fires, floods, and theft. However, the most common perils that threaten unique art collections are far more subtle: a poorly hung painting that falls to the ground or a simple scratch due to improper handling. Unlike the expectations with...
The Art of Security: Safeguarding High-Value Investments with Collectibles Insurance
In the world of fine art, collectibles insurance is where passion meets investment, which makes ensuring the safety of your client’s valued treasures a tricky business. The reason? Collectors want to know they are preserving not only the monetary value of their collectibles but also the items’ sentimental and historical significance. As a result,...
Navigating the Underinsurance Crisis for Small Businesses
Small businesses may not get the same level of media attention as larger Fortune 500 companies, but they’re quietly working away to bolster the economy, provide jobs to millions, and navigate the underinsurance crisis. Businesses with fewer than 50 employees account for 45% of all private sector jobs and keep roughly 56 million Americans...
Nine Tips for Keeping Employees Safe this Winter
While winter officially began on December 21, the onset of cold weather was felt in many areas of the United States much earlier. As we move into what are typically the coldest months of the year, businesses need to be mindful of the safety of their employees — particularly employees who spend some or much of their working day outside. On...
Safeguarding Commercial Properties: Tips to Prevent Winter Fires
Fires in commercial buildings can happen any time of year, but the risk can rise in winter. The colder months often bring increased usage of heating systems and electrical appliances as businesses work to make spaces more comfortable for employees and customers and to keep equipment and other business assets safe and operational. Winter weather...
Winter Preparedness is Key as Regulators Warn of Grid Disruptions
According to the North American Electric Reliability Corporation (NERC)’s 2023-2024 Winter Reliability Assessment, two-thirds of the United States and Canada may be in for a chilly winter season. The report concludes that during peak winter weather conditions, prolonged dips in temperatures will significantly disrupt the electric grid and...
Self-Storage Demand Holds Steady With Few Signs of Post-Boom Decline
Americans love our stuff — and we’re so reluctant to part with it that we’re willing to pay someone else to store it. Storage Cafe estimates that 38% of Americans have used or plan to rent space to store what they can’t (or don’t want to) keep in their homes. Over the past two years, there’s been a boom in the self-storage industry, driven...
Common Cyber Insurance Myths and Misconceptions
No matter what kind of business you’re in, the threat of cybercrime — and its associated costs — looms large. According to IBM Security, globally the average cost of a single breach reached an all-time high in 2023 ($4.45 million). In the U.S., that number is even higher, with an average cost of $9.48 million per breach, an increase of 0.4% from...
Navigating Middle-Market Pricing Hikes
Lately, middle-market businesses (those that typically pay premiums upward of $75K) are finding it difficult to secure reasonable commercial property and auto insurance. This is pushing many of them to pursue new insurance solutions for the coming year. What’s Driving Middle-Market Property and Auto Prices? In its Q2 2023 Property and...
Protecting Property Owners’ Associations: Understanding Directors & Officers Liability Coverage
Property owners’ associations (POAs), such as homeowners’ associations and condo owners’ associations, play a crucial role in maintaining community grounds, shared buildings, and other assets. However, leading and managing these associations comes with its fair share of responsibilities and potential risks. “The individuals who serve on...
Nonprofit Insurance for Giving Tuesday 2023 — And Beyond
The Significance of Giving Tuesday While most of us may be in the midst of planning our Thanksgiving menu or trying to get a jump-start on our holiday shopping list, nonprofits across the globe are gearing up for Giving Tuesday. Giving Tuesday — which falls on November 28th this year — marks a unique opportunity for nonprofit and social services...
Nonprofit Sector Growth Underscores Need for Specialized Insurance
The American nonprofit sector has grown an astounding 33% over the past 15 years — faster than any other segment in the economy. Although the private for-profit sector continues to employ the largest number of individuals across the country, the nonprofit sector holds the number two spot — ahead of federal, local, and state governments. In...
HNOA Insurance for Food and Cannabis Delivery
Many food and cannabis delivery service providers mistakenly believe their employees are fully covered on the road through commercial auto insurance or the employees’ personal auto policies — but that’s not the case. If a business hires drivers who use borrowed, rented, or personal vehicles for food or cannabis deliveries, they risk exposure to...
Ask Your Clients These Collectibles Insurance Questions
Collectibles represented a $458.2 billion market last year, with expectations to grow up to $462 billion in 2023. Whether someone collects sports jerseys, bourbon, jewelry, or specialty duck decoys, they want to know their investment is protected. While standard insurance policies can offer some protection, they weren’t designed with...
Behind Locked Doors: Unusual Finds in Self-Storage Units
Abandoned storage units have long held an aura of mystery and intrigue, captivating the public’s imagination through television shows like “Storage Wars” and “Auction Hunters.” And who could forget the scene in the classic horror film “Silence of the Lambs” where Clarice Starling, played by Jodie Foster, crawls into storage unit #31 in pursuit of...
Seven Cybersecurity Measures That Lower Insurance Premiums
There has been a staggering surge in cybercriminal activities over the past few years, with a global increase of 38% between 2021 and 2022. The financial repercussions of an attack can be crippling, with an average cost of a single data breach reaching $4.45 million. In an effort to cover their losses and keep up with demand, insurers have...
3 Things Claims Adjusters Want Your Clients to Know
The 2023 hurricane season has been punctuated by the damaging winds and rain of Tropical Storm Hilary in California as well as Hurricanes Idalia and Lee and Tropical Storm Ophelia on the Atlantic coastline. And it’s not over yet! Risk management can go a long way toward mitigating incidents of property damage or bodily injury at a commercial...
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