McGlinchey in the News
How to Land the Best Insurance DealRead Time: 1 min
Member Lauren Ybarra (Dallas) was interviewed in “How to Land the Best Insurance Deal” in MG Magazine. She discusses insurance in the cannabis industry.
“The expansion of the industry has resulted in substantial growth in the cannabis insurance business, largely due to state regulations requiring businesses to obtain insurance in order to comply with licensing requirements,” said Lauren Ybarra, a cannabis insurance specialist at McGlinchey Stafford. “This also means insurance products available to businesses are increasingly sophisticated, full-service products offering vast coverage for a wide range of business activities.”
Preferably, find a broker who has experience in placing a policy with an insurer that has had to pay a claim for a cannabis policyholder. “This will ensure the broker and insurer understand how the claim was assessed and ultimately paid or denied,” said Lauren Ybarra at McGlinchey Stafford. “This information can be passed on to the cannabis business to assist it in making a decision regarding obtaining useful insurance.
“The experience of paying a claim is a great way to comprehend how your business will be treated when and if an issue arises and you need coverage, especially if a claim ever needs to be paid under the policy,” she added.
Read the full article here.