Aura Risk Management Launches A New Insurance Program For Cannabis Companies

Aura Risk Management, a member of The Liberty Company Network of Insurance Brokers, launched Indisure, a new insurance program created exclusively for cannabis companies in all 38 legalized U.S. states. With the support of an AM Best ‘A-’ carrier partner, Aura’s Indisure cannabis program offers a complete coverage solution with capacity for all aspects of the cannabis industry, including general liability, property, products liability and cargo.

“With Indisure, we aim to provide the marketplace with products that create solutions for cannabis business owners. We are thrilled with our program partner, a best-in-class carrier, along with our strong panel of reinsurance partners that have made this possible. We look forward to helping our distribution partners with a great product to strengthen their portfolios,” stated Tony McIntosh, president, Aura

Aura’s primary goal, as a delegated underwriting authority managing general agent, is to provide its trading partners with a healthy and profitable portfolio of cannabis businesses and to support insureds with products that provide solutions to their business exposure. As part of the program, Aura diligently underwrites its portfolio and requires insureds to be members of its risk management association. As a member of the association, clients will have access to helpful resources in support of safety and health and loss control, in addition to a litany of other value-added benefits including compliance support and a yearly industry event.

Aura’s new Indisure cannabis program also guarantees a customer experience with modern, digital technology for ease of use, quick turn-around times, higher general liability limit capacity, higher property capacity with no coinsurance available and broader products liability and cargo coverage and capacity.

“I am excited to bring this much needed new capacity to the underserved cannabis industry. The cannabis industry is filled with remarkably talented entrepreneurs with hard working employees,” stated Vance Ownbey, chief underwriting officer, Aura Risk.

The program allows for a mix of acceptable classes including medical dispensaries/recreational stores, wholesale cultivators, infused product manufacturers, testing labs, transportation/delivery and ancillary technology and products companies, and property coverage considerations are available for the following:

• Cannabis packaging

• Automated nutrient delivery systems

• Surveillance cameras and equipment

• Extraction equipment and supplies

• Testing lab equipment and supplies

• Photo: Benzinga; Sources: courtesy of jarmoluk and lindsayfox via Pixabay

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