Last quarter, Cannasure expanded our MGA program to include some new states transitioning to Adult-Use. Additionally, we’ve bolstered our Wholesale Brokerage operations to include more coverage options for the ever-expanding Cannabis & Hemp/CBD industries. In sharing 10 highlights of our recent successes, we hope to expand awareness of all that we can cover!
We look forward to announcing some significant, positive updates to our MGA program soon. As always, thank you for your support!
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MI Vertically Integrated Operations
$5M GL limit; $32.5M Property TIV – Mid-six figure annual premium
Competitors could only offer $15M in Property coverage.
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AZ New Market Alert
Recent win on a Builders Risk placement in AZ – $6.5M build-out for less than $25k.
Building will be geared for Growing & Processing. Agent’s initial market quoted until they reviewed the future Tenancy and walked away.
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MI Creative Coverage Alert
Another MI vertically integrated operator – Cannasure MGA won the Property placement, Cannasure Brokerage won the GL placement.
Our flexibility to bring both sides of the house together won the day.
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CA Commercial Auto
Blending HNOA and Owned Auto coverages for Dispensary deliveries direct to Consumer – $90k annual premium – $1M CSL
Agent couldn’t find an alternative quote due to HNOA/Owned Auto combo.
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MA Grower/Processor
$50M Property limits & GL/Products Liability limits of $2M – Just under $175k
New business to Cannasure due to Property limits that exceeded the incumbent’s capabilities.
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PA Worker’s Compensation
Cultivator/Processor $75,000 annual premium
Cannasure rounded out an existing account by placing the WC after securing the Package and Auto coverages in 2021.
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NJ MSO Monoline Cyber Liability
$2M limit – $150k premium
Premium was pretty high due to prior Cyber claims that were addressed during the submission process (and a diagnostic review of client’s Cyber security system).
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AZ Special Event Policy
Outdoor Cannabis Event with Live Music & Cannabis Consumption.
Cannasure just started working with a Special Event program that expanded their appetite to include Cannabis during our initial negotiations. The Special Event activity has skyrocketed with our new capabilities!
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CA Monoline Property Placement
$28M Property placement, incumbent maxed at $15M.
Cultivation/Processing – GL stayed with the incumbent carrier, but our Property coverage/capacity were superior and required by the operator.
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MA-based Multi-State Operator Stock Throughput & Cargo Combination Policy
$20M max conveyance, $2M cargo limit – $181k
The new STP/Cargo market is hungry for additional opportunities.