Insights
Top 8 Insurance Coverages Nonprofits Need
Nonprofits face a unique balancing act: Operating with the heart of a charity and the liability of a business. From volunteer mishaps to cybercrime, nonprofit organizations are exposed to a wide range of risks, and often on a shoestring budget. That’s why having the right nonprofit insurance coverage is not just advisable, but essential. A recent article in Insurance Business outlines the diverse and complex risks these organizations face and offers an excellent...
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...
How to Get Your Underwriter to Get Behind Your Risk
Communicating the story of your client’s risk profile can yield optimal coverage at the best rate. One of the most effective ways an agent can streamline the quoting process and get the best rate for a commercial client is by telling your underwriter a story. The story you craft probably won’t begin with “once upon a time,” but it may result in a...
Hurricane Season at Halftime: What Do Forecasters Predict for the Atlantic?
Does a quiet July indicate a mild season overall? Not so fast! Since the official start of the Atlantic hurricane season on June 1st, the U.S. coastline and Gulf Coast have been quiet. According to the Tropical Weather and Climate Research team at Colorado State University (CSU), the three named storms that have developed so far accounted for...
Cyber Liability is An Important Protection for All Industries
Which of your commercial clients need cyber coverage? All of them. Any organization that has a computer network, handles confidential information, or collects and transacts with personal identifiable information is at risk of a data breach. This exposure has the potential to pose a significant financial threat to any business or entity involved....
Higher Construction Costs Lead To Increased Insurance Rates
The construction industry is facing its share of challenges lately. COVID-19-related shutdowns are causing ongoing product shortages. Supply chain disruptions are making it difficult to secure materials and leading to project delays. Soaring inflation is causing construction material prices to skyrocket by as much as 26.7%—which is having a...
MiniCo Insurance Agency Named Best of Business in Self-Storage Commercial Insurance for Eleventh Year
For the eleventh consecutive year, MiniCo Insurance Agency has claimed the top spot in self-storage commercial insurance among voters in the self-storage industry. MiniCo Insurance Agency (MiniCo) 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 eleventh...
Loss-Control Tips for Private Collectors
Billion-dollar insurance losses have been on an upward trajectory for the past several decades in a trend that shows no signs of slowing down. The latest data from The National Oceanic and Atmospheric Administration (NOAA) indicates a dramatic increase in both the total number of billion-dollar events each year as well as the cost of insured...
Why You Need to Have Google Business in 2022
Although it feels like everyone is on at least one social media platform, there are local audiences that could be missing out on your content. Having a Google Business profile will literally put you on the virtual map, help you get seen, and help spread the word about your business. Get Put on the Map Google processes 5.6 billion searches a day!...
Getting Seen and Followed on Twitter
Twitter is its own unique social media platform. Although you have followers, how you post, engage, and create content varies from the other social media networks. Here are some tips to help you get seen and grow followers on Twitter. Credibility Followers matter. The more followers you have, the greater the reach your posts will have. Having...
All About QR Codes
QR codes look like a cubism form of a barcode. These encoded symbols can be printed out onto a product, sticker, or marketing material, and then scanned to share information. It’s a great way to provide information to clients without having to write it all out on every brochure or other marketing piece. In the past you had to download a separate...
MiniCo Insurance Announces Two Strategic Leadership Promotions
Rick Krouner and Jim Henry have been tapped to lead MiniCo's Specialty Programs and National Programs divisions. MiniCo Insurance Agency (MiniCo) is pleased to announce two leaders stepping into strategic leadership roles. Rick Krouner, formerly President of MiniCo’s Casualty division, has been named President of MiniCo’s Specialty Programs...
Jencap Creates Strategic New Role for Their Programs Division
NEW YORK, NY (January 13, 2022) – Jencap Program Administrators (JPA), a division of Jencap Group LLC (Jencap), is pleased to announce the newly created executive role of Chief Revenue Officer. Mike Schofield, formerly President and Chief Executive Officer of MiniCo Insurance Agency (MiniCo), a JPA company, will assume this new...
Planning Ahead for Tornadoes
Tornadoes are one of the most devastating weather events in terms of property damage and potential for injury and loss of life. While tornadoes can occur anywhere, the United States experiences the highest number of any country. As of mid-December 2021, there were over 1,000 confirmed tornadoes in the U.S. including 14 events that resulted in...
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