eRisk Management Newsletter

Spring 2021

IN THIS ISSUE:

. Understanding the Hard Insurance Market
. Communicate and Educate to Prevent Fire
. Understanding Admitted and Non-Admitted Insurance Carriers
. Spring Maintenance Tasks
 

Understanding the Hard Insurance Market

Insurance industry analysts have predicted market hardening since 2019, and, so far, those forecasts have been accurate. Owners of self-storage businesses and other types of commercial property may see evidence of market hardening at their next insurance renewal in the form of changes to pricing, deductibles, limits, and coverage. Understanding the loss trends behind the hard insurance market is important for insurance buyers nationwide.

READ MORE....

 

Communicate and Educate to Prevent Fire

Fire can take a devastating toll on your self-storage operation. It is one of the costliest causes of loss for property owners and insurance carriers. The aftermath of a fire can include costly repairs as well as lost income while spaces are unavailable to rent. Taking action to mitigate the potential risk of fire is a critical task for business owners.

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Understanding Admitted and Non-Admitted Insurance Carriers

Insurance costs are a significant expense category for most small and medium-sized businesses. When policy renewal time comes around, it is important for self-storage business owners to carefully consider the available insurance options. One issue that often brings up questions is the difference between admitted and non-admitted insurance carriers.

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Spring Maintenance Tasks

The active 2020-2021 winter storm season has meant that many parts of the country have dealt with the hazards that result from extreme winter weather. As we move into spring, warmer temperatures will bring additional challenges. It's important to make a plan for spring inspections and maintenance at your self-storage facility even if the snow is still falling.

READ MORE....

 

800-528-1056
www.minico.com

info@minico.com

10851 N. Black Canyon Highway, Suite 200
Phoenix, AZ 85029
California License # 0H04984

© 2021 MiniCo Insurance Agency, LLC.
All rights reserved.

MiniCo
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