One80 Intermediaries Buys Cannabis Insurance Provider Cannasure To Expand Its Offering
One80 Intermediaries, a brokerage insurance solutions provider, has acquired cannabis insurance provider Cannasure Insurance Services.
Deal details remain undisclosed.
A private insurance wholesaler and program manager, One80 operates across the U.S. and Canada. It provides placement services and binding authority for life insurance, property and casualty, medical stop-loss, among others, covering a plethora of industries.
Cannasure is a cannabis industry-oriented wholesale broker and Managing General Agent, providing industry expertise and risk assessments. It offers its professional services to growers, processors, producers, dispensaries, labs, extractors, landlords, processors, and ancillary enterprises.
"One80 provides innovative insurance solutions tailored to the emerging cannabis industry,” Matthew F. Power, President of One80 Intermediaries, stated. “Our team of professionals understands both the ever-changing regulatory environment and client needs throughout the cannabis supply chain. The Cannasure acquisition ensures that we stay at the forefront of the industry, providing unmatched protection to cannabis and hemp businesses helping them thrive."
One80 Managing Director Patrick McManamon added that the company works on helping cannabis and hemp companies deal with difficulties in regards to their insurance coverage.
“Joining the One80 team allows us to further expand our suite of insurance products, ensuring they are affordable, attainable and most importantly, properly safeguard the businesses we serve,” he said.
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