MiniCo Insurance Agency LLC has formed MiniCo Insurance Agency of Canada Inc. to offer specialty insurance programs to the Canadian market, beginning with the self-storage sector. MiniCo will represent Aspen Insurance UK Ltd., a subsidiary of Aspen Insurance Holdings Ltd., and will begin underwriting coverage in British Columbia, with planned availability throughout the country by the end of the year.
MiniCos focus on niche specialty programs brings significant value to the distribution chain, and we look forward to offering new specialty products as we expand throughout Canada, said MiniCo President and CEO Mike Schofield. The self-storage market in Canada represents a strategic growth opportunity, he said, and MiniCos specialty product will be available to Canadian business owners through their existing broker relationships.
According to chief underwriting officer Jim Henry, MiniCo will be contacting agents and brokers with information about availability in specific provinces as approvals are granted.
Aspen American Insurance Co., a subsidiary of Aspen Insurance Holdings, agreed to be a carrier for MiniCo programs earlier this summer. The company began underwriting self-storage coverage effective July 1 in several states, with plans to roll out additional states throughout the year.
MiniCo Inc., a provider of self-storage insurance products and industry publications, sold its insurance-agency operation and publishing division to Aran Insurance Services Group of Rockville Centre, N.Y., in May 2010. Aran is a full-service general agency and underwriter that specializes in acquiring and developing insurance underwriting facilities for the property and casualty and accident and health markets.