One80 Intermediaries (One80), a national wholesale broker, program manager, third-party administrator (TPA), warranty and lender-based insurance provider, and insurance aggregator headquartered in Boston, today announced that it has acquired Cannasure Insurance Services, a full-service wholesale broker and Managing General Agent created exclusively to serve the cannabis and hemp industry. Terms of the deal were not disclosed.
Established in 2010, Cannasure Insurance Services (Cannasure) provides retail insurance agents with deep industry knowledge, comprehensive risk assessments and industry leading product offerings, which include property, general liability, excess, professional, products and completed operations liability, as well as product withdrawal expense, property in transit and living plant coverage.
“One80 provides innovative insurance solutions tailored to the emerging cannabis industry. Our team of professionals understands both the ever-changing regulatory environment and client needs throughout the cannabis supply chain,” said Matthew F. Power, President of One80 Intermediaries. “The Cannasure acquisition ensures that we stay at the forefront of the industry, providing unmatched protection to cannabis and hemp businesses helping them thrive.”
Cannasure offers comprehensive solutions to cultivators, dispensaries, extractors, processors, product manufacturers, testing labs, landlords and ancillary businesses in all states where cannabis and hemp are legal. Coverage is available on a monoline or package basis through carriers rated A- or greater with A.M. Best.
“We have dedicated our practice to mitigating the challenges that businesses in the legal cannabis and hemp industries face when trying to obtain 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,” said Patrick McManamon, Managing Director at One80 Intermediaries.
To learn more about One80 Intermediaries, visit www.one80intermediaries.com.
About One80 Intermediaries
One80 Intermediaries is a privately held, national firm with offices throughout the US and Canada. As a leading insurance wholesaler and program manager, the company offers placement services and binding authority for property & casualty, financial lines, personal lines, life insurance, medical stop loss, alternative risk, warranty, lender-based insurance, travel/accident and health risks. One80 serves commercial companies, non-profits, public entities, and individuals, and has access to all major insurance markets in the US, Canada and UK. Coverage spans all industry classes. One80 has offices in more than 30 locations in the US and Canada. For more information, visit www.one80intermediaries.com.