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b'-CannGen\\xa0Insurance Services is\\xa0one of the largest cannabis insurance providers in the US\\xa0and Canada.\\xa0CannGen\\xa0underwrites for most of the top revenue-generating MSOs in the space (in the US and in Canada) and is the first Managing General Underwriter (MGU) exclusively focused on the legal cannabis industry.\\xa0Talk to me about the issues surrounding MSOs and what those companies seeking to expand into a MSO or attach to one should be aware of.\\xa0

-PropertyCasualty360 recently wrote\\xa0about Cannabis operations are hungry for D&O coverage


Cannabis companies need D&O not just to protect their current executives and board members but to attract leading talent in the space as well as draw in new investors to scale up the business.\\xa0

Directors and officers (D&O) liability insurance\\xa0protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.


\\u201cFirst and foremost, by not having\\xa0D&O protection\\xa0to interest the highest caliber of board or executive team members, an operator is limiting the pool of candidates they can attract to guide their company,\\u201d Pyfrom tells PropertyCasualty360.com. \\u201cA lot of clients tell me that adding D&O to their portfolio allowed them to attract board member X or investor Y. Absent that coverage, they couldn\\u2019t have accessed that growth.\\u201d

-Charles moderated a panel at the 2021 Insuring Cannabis Summit:\\xa0 describing the difficulty of explaining to insurance buyers about the lack of capacity or certain lines of insurance.

\\u201cHonestly we\\u2019ve found with a lot of our buyers and brokers we talked to where they\\u2019ll say, \\u2018What do you mean it\\u2019s not available?\'\\u201d Pyfrom said. \\u201cThat shock factor is real, even though cannabis has been more than a decade strong, continue to be a force in the industry of an up and coming boom, where it\\u2019s attracting great operators and great executives from other industries to come over and say, I want to be part of this entrepreneurial venture that is cannabis, that\\u2019s doing a gazillion dollars in sales every year now. I mean, it\\u2019s real numbers."'