Insights
The Adult Day Care Business Boom
The way we care for our aging population is changing. As life expectancy increases and more seniors express a desire to age in place, families are looking for alternatives to traditional nursing homes and round-the-clock, in-home care. Adult day care centers are emerging as an essential solution, offering structured, daytime support for seniors while giving caregivers much-needed relief. Once an underrated option, adult day care is now one of the fastest-growing...
Protecting a Collection in the Event of a Hurricane
Billion-dollar weather events are on the rise. As an insurance agent, you are likely counseling clients to review and adjust coverage for their personal homes and commercial properties. But have you asked about their collections of artwork, signed sports memorabilia, Wine…or something else? For context, insured losses due to severe weather...
What Agents Should Know When Insuring Horse Boarding Facilities
There’s been a tremendous shift toward recreational horse ownership, so much so that this group represents a significant (and the fastest growing) portion of the horse industry. Accompanying this growth is an increasing need for horse boarding facilities that can provide quality equine custody and care. As the market grows, many owners of horse...
5 Ways to Mitigate Wind and Hail Damage Risks for Your Insureds
Insurance claims for small businesses occur frequently enough; in 2020 alone, 3 out of 4 businesses experienced an event that could have resulted in an insurance claim. With that statistic in mind, it begs the question: “What are the most common claims for businesses?” Recent data indicates that claims resulting from natural disasters rank second...
Cyber security: how to guide your insureds through a data breach
How to Guide Your Insureds Through a Data Breach Whether through sophisticated malware, phishing schemes, or an unsecured website that leads to data leaks, cyber attacks occur frequently enough to warrant due diligence. Cyber attacks affect businesses of every size — from a mom-and-pop shop that takes digital payments to large enterprises that...
Giddy Up Your Coverage: Insuring Bourbon Collections in Time for the Kentucky Derby
Bourbon has become a treasured prize for collectors around the world. But whether you enjoy sipping it neat or mixing it into classic cocktails, bourbon is singularly beloved and wholly American. Bourbon is the only spirit native to the United States and, in fact, is protected by a 1964 Congressional resolution that limits its production to...
Cyber Risks of Using Public Phone-Charging Stations
Your clients’ exposure to cybercrime doesn't end at the office door. Hackers have a variety of ways to access critical business information via phishing, ransomware, and malware. One of the latest trends in cyberattacks involves the use of public phone-charging stations. Although these charging stations are convenient and appear safe, they can...
How to Insure Antiques and Fine Collectibles
It’s a $42,000 mistake that happened recently at an art exhibit in Miami. The most famous balloon dog sculpture in the U.S. was accidentally knocked over by an attendee — and it shattered into pieces. Wait a minute..? Why didn’t they place that sculpture under protective glass or something? Good point! But the bigger question is, “Who’s going to...
PEZ Outlaws, Beanie Babies, and the Need for Insurance
There’s a group of collectibles that deserves to be in its own category. And because the right name for it doesn’t exist yet, we came up with an acronym of our own. We’re calling this group the CCC — short for “collectible cash cows.” You may already know a bit about these high-value collectibles that have become internet sensations. For one,...
MiniCo Announces Sale of its Publishing Division to Storelocal
Phoenix, AZ (March 8, 2023) – MiniCo Insurance Agency LLC (MiniCo) announced today that it has finalized the sale of its Publishing Division, effective March 1, 2023, to Storelocal Media Corporation (Storelocal). “It’s very exciting,” said Travis Morrow, Storelocal’s CEO, “Mini-Storage Messenger is not about just a magazine–it’s what it...
Myths About Nonprofits: How to Protect These Organizations
There are about 2 million nonprofit organizations in the U.S. With their entrepreneurial spirit and mission-guided purposes, these nonprofits play a tremendous role in our society. Nonprofits champion humanitarian goals, advocate charitable causes, lead the forefront in scientific research, serve as guardians for the environment, and more. ...
The Future of Technology in Agribusiness
Understanding The Future of Technology in AgribusinessThe digital revolution is making great strides in the agriculture business, and for good reason. For one, digital technologies in agriculture have helped improve crop yields and fine-tune the food system from beginning to end. MiniCo’s VP of Underwriting, Nathan Garrett, has some great...
Insider Perspective: 2023 Trends to Watch in the Self-Storage Insurance Market
Insurance rates are rising, media is buzzing about a possible recession, and capital is becoming harder to find. We spoke with MiniCo VP of Underwriting and P&C Insurance expert, Josh Leykam, about how these factors are impacting commercial self-storage and what we can expect in the year ahead. Although no one can say for sure what 2023 will...
Can Homeowners Insurance Cover a Storage Unit? What You Should Know About Off-Site Storage
Comedian George Carlin famously said that all we need in life is “a place for our stuff.” More than 11 percent of Americans — nearly 15 million households at last count — turn to local self-storage facilities because they have more stuff than their closets and garages can hold. Renting a self-storage unit is a convenient solution for many of us....
International Ransomware Network Cripples over 1,500 Victims Before Being Dismantled
The U.S. Department of Justice last week announced the outcome of a multi-agency, multinational operation that dismantled an international ransomware network with thousands of targets. With a narrative worthy of a fictional espionage thriller, the news release dated January 26, 2023, described a months-long campaign of disruption waged against...
Top 7 Most Unusual Collections We’ve Insured
We’ve all heard stories about the Hollywood stars and athletes who take out insurance policies to cover specific body parts. World War II pinup model and actress Betty Grable was famous for having a $1 million insurance policy on her legs. More recently Proctor and Gamble insured the flowing locks of its shampoo spokesperson (and former...
When Winter Drops a Bomb: Understanding Bomb Cyclones
Winter Storm Elliott made headlines in December 2022 for its incredible ferocity and destructive power. Amid the reports, many of us first encountered the term “bomb cyclone.” While not a rare phenomenon, bomb cyclones don’t usually cause the level of damage that Elliott inflicted. Air travel during the 2022 holiday season produced moments...
Protecting Nonprofits and Their Volunteers
‘Tis the season for end-of-the-year charitable giving! As fundraising efforts ramp up and volunteers pitch in, make sure your nonprofit clients have the coverage they need. The last few weeks of the year are critical for charitable organizations when it comes to fundraising. The holiday message of giving to others combined with the...
Rising Catastrophic Losses Underscore the Importance of Property Valuation
For the past several years, catastrophic insurance claims of all types have been occurring more frequently and with increasing severity. The Insurance Information Institute reported $92 billion of insured losses in the United States in 2021 as a result of natural catastrophes to include severe storms, wind, hail, wildfire, flood, and earthquake....
Self-Storage: Opportunity Behind the Rollup Doors
4 Reasons Why Insurance Agents Should Give Self-Storage Risks a Closer Look Self-storage is a superstar in the commercial real estate market. Over the past half-century, the industry has proven itself to be resilient to the vagaries of consumer trends, economic recession, and even global pandemic. As the industry continues to grow, so...
MiniCo Recognized as 5-Star Program Administrator by Insurance Business America
MiniCo has been chosen for this award for the second year in a row by voters within the insurance industry. MiniCo Insurance (MiniCo), a Jencap company, has been recognized for the second consecutive year as a 5-Star Program Administrator by Insurance Business America. Program administrators were nominated by insurance industry professionals...
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