New Cannasure Program to Offer All Coverage Lines to Cannabis Industry
Cannasure Insurance Services, an cannabis insurance MGA and wholesale broker, is launching a new comprehensive coverage program for the cannabis industry.
Patrick McManamon, CEO of Cannasure Insurance Services, said the program will offer all lines of coverage to medical and recreational business owners and is backed by Topa Insurance Group, a boutique property-casualty insurer.
He said initially, the program will be offered on a non-admitted basis but the company is exploring offering it on an admitted basis in target states.
The Cannasure program will offer the following coverage lines: property, general liability, products liability, crop and excess liability. The program is designed to support the primary industry operations, which include: dispensaries, cultivators, processors/manufacturers, ancillary businesses, landlords and testing laboratories.
The program will be managed by Kieran O’Rourke, director of Underwriting, of Cannasure’s MGA division.
Cannasure Insurance Services is a full-service insurance group providing coverage to cannabis business owners in the U.S. that include cultivators, dispensaries, processors and products manufacturers, testing laboratories, landlords and ancillary businesses for retail insurance agents and brokers.
Located in Westlake, Ohio, Cannasure is licensed in all states where legalized cannabis is offered (medical and recreational) and provides a range of coverages that includes, but is not limited to, general liability, product liability, auto (primary/excess), all risk property, inland marine, stock throughput, professional and management liability, umbrella and workers’ compensation.
Topa Insurance Company is one of the wholly owned subsidiaries of Topa Insurance Group, based in Calabasas, California, which provides wholesale insurance products.
Source: Insurance Journal