MiniCo's cyber insurance program offers monoline coverage for costs resulting from a data breach by the insured and any subsequent expenses that may be incurred from the loss of data.
MiniCo Insurance Agency has introduced a cyber insurance program to provide monoline coverage for small and medium-sized businesses for costs resulting from a data breach by the insured and any subsequent expenses that may be incurred from the loss of data. The program is underwritten by Barbican Insurance Group, which has been rated "A" (Excellent) by A.M. Best, through MiniCo's status as a Lloyd's of London coverholder. The company is now offering coverage nationwide. Agents may obtain a premium quotation by visiting www.minico.com/cyber. No appointment or supporting MiniCo accounts are required to get a quote.
MiniCo's cyber insurance program provides coverage for a wide range of eligible small and medium-sized commercial risks. Coverages include security and privacy liability, data recovery and loss of business income, privacy regulatory defense and penalties, crisis management costs, and data extortion.
MiniCo President and CEO Mike Schofield commented, “Small and medium-sized businesses are squarely in the crosshairs of cybercriminals. Recent data indicates a steep rise in the number and frequency of cyberattacks on these companies, which increases the need for an insurance solution. MiniCo has developed our cyber insurance program with this need in mind, and we are excited to offer this product to agents to help their clients protect their valuable business investments."
MiniCo Insurance Agency, LLC, was founded in 1974 as a provider of specialty insurance products and publications for the self-storage industry. Today the company is a managing general agency offering multiple specialty property and casualty insurance products for a variety of unique industries and exposures. MiniCo Insurance Agency, LLC, the parent company of MiniCo Insurance Agency of Canada, Inc., is a member of the Aran Insurance Services Group. For more information, please visit www.minico.com.
Vice President, Marketing & Communications
MiniCo Insurance Agency