MiniCo’s wind/hail deductible buy-back program is offered in partnership with Lloyd’s of London and is available for storage and non-storage commercial property nationwide.
MiniCo Insurance Agency, a member of the Aran Insurance Services Group, has created an educational short video for its wind/hail deductible buy-back program. The monoline insurance program is available for all types of property risks, and the video provides insurance agents a brief but detailed explanation of the program’s benefits as well as a description of the industry trends driving the need for the program.
The wind/hail deductible buy-back program is a viable solution for owners of storage and non storage commercial property who seek to mitigate their financial exposure related to wind/hail deductibles applied to their property insurance policies. Deductibles of up to five percent are often applied to policies on properties in geographic locations that are prone to catastrophic wind and hail events. Higher wind/hail deductibles create a financial exposure for the property owner and may be noncompliant with the lienholder’s mortgage requirements.
The wind/hail deductible buy-back program offered through MiniCo provides commercial property owners an option to purchase a stand-alone policy to reduce the deductible to as low as one percent or a specific dollar amount. MiniCo is a coverholder for Lloyd’s of London, and the program is offered in partnership with Aegis, a Lloyd’s syndicate. MiniCo will quote and issue policies electronically utilizing a new Aegis technology platform and provide in-house claims services.
MiniCo President and CEO Mike Schofield commented, “MiniCo is committed to providing educational resources for our valued independent insurance agents. This three-minute video offers details about our wind/hail deductible buy-back program to assist agents in offering the policy to their clients.”
The wind/hail deductible buy-back program video is available at www.minico.com/buyback.
About MiniCo Insurance Agency, LLC
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 program administrator 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, Incorporated, is a member of the Aran Insurance Services Group. For more information, visit www.minico.com.
Lloyd's is the world's only specialist insurance and reinsurance market that offers a unique concentration of expertise and talent, backed by strong financial ratings and international licenses. It is often the first to insure new, unusual or complex risks, providing innovative insurance solutions for local, cross border and global risks.