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This week we return to the Benzinga Cannabis Capital conference in Chicago and meet Megan Kelly to talk about cannabis insurance. Megan represents Alchemy, a specialty risk program that provides comprehensive policies designed for small to medium-sized cannabis businesses. In this interview, we discuss the constraints of cannabis businesses regarding state and federal regulation in the context of insurance. We also discuss the challenges Alchemy has faced as a startup.
Cannabis Insurance
Megan shared how Alchemy customizes affordable insurance policies to protect businesses against losses to buildings, business property, and income. Furthermore, we chat about claims of others alleging bodily injury, property damage, or personal/advertising injury resulting from business operations.
Alchemy is a start-up marketed by Cornerstone with Cypress Property and Casualty Insurance as the underwriter. Like all startups challenges included:
- Understand the competition and offerings
- Product pricing
- Understand market needs unique to cannabis
- State Regulations – Currently they can provide dispensary policies in OK, CO, AZ, NV, WA, and IL.
How to Find Megan Kelly at Alchemy Insurance
- Alchemy Cannabis Insurance https://alchemyins.com/
- Contact sales@alchemyins.com
- Megan Kelly on LinkedIn
Benzinga Capital Conference
Benzinga is a two-day conference designed with a strong emphasis on facilitating valuable business interactions. In addition to gaining insights into how recent developments will shape the industry, Benzinga Chicago features a carefully curated expo floor that offers attendees the opportunity to connect with over 60 data companies, lenders, brands, and finance service providers. In addition, Benzinga has an invitation-only space that facilitates meaningful connections between potential buyers and sellers. The forum enables attendees to explore potential partnerships and transactions, further enhancing the event’s value and impact.
Cannabis Advocate Podcast
The Cannabis Advocate podcast advocates for businesses in the cannabis industry and explores the unique challenges they face. Despite hurdles in legislation, regulation, and culture, there are tremendous opportunities for growers, manufacturers, and retail sellers of cannabis products. Many of these issues are unique to the cannabis industry. This podcast speaks to these common concerns and shares stories of success.
This is a production of Habanero Media. https://habaneromedia.net
To subscribe to the podcast go to https://cannabisadvocatepodcast.com/listen/ If you have a question or comment, https://cannabisadvocatepodcast.com/contact
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