CannGen Canada Gains International Synergy With Established CannGen Brand
TORONTO, Ontario , April 17, 2023 — via NewMediaWire – CannGen Canada Insurance Services (“CannGen Canada” or the “Company”), the premier insurance provider writing comprehensive “seed to sale” insurance protection policies in the cannabis, CBD and hemp industries, announced today a Company name change and new growth strategies. Since 2018, CannGen Canada was previously Next Wave Insurance Canada, and will offer the same coverage options for clients in the cannabis industry under the new corporate name, which has international recognition for insurance excellence.
Based in Toronto, ON, Next Wave Insurance Canada (“NWIC”) is a subsidiary of Diversified Risk Holdings, LLC (“DRH”). NWIC was launched to provide insurance solutions to the cannabis, CBD and hemp industries in Canada. DRH is a holding company that also owns CannGen Insurance Services, LLC (“CannGen”). With origins dating back to 2008 in California, CannGen is the first and largest Managing General Underwriter exclusively focused on offering an all lines solution to medicinal and recreational cannabis operations in all legal U.S. states. The name change from NWIC to CannGen Canada represents synergy among the CannGen brands internationally, including the United States and European Union.
CannGen Canada writes the following lines:
- Boiler and Machinery
- General Liability
- Products Liability
- Product Recall
- Directors & Officers Liability
- Errors & Omissions Liability
“Our team has established ourselves to be the Canadian insurance partner of choice for all legal cannabis companies by providing valuable asset protection to business owners through best-in-class coverage offering,” said Kelli Hunt, Senior Vice President of CannGen Canada. “We cover all parts of the supply chain from seed to sale for Licensed Health Canada, or provincial, Licensed Producers, Wholesale, Extractors, Retailers, Building Owners and Ancillary services to the cannabis industry. We look forward to continuing to provide these award-winning services under our new name, CannGen Canada.”
About CannGen Insurance Canada
CannGen Canada was launched in 2018 to provide insurance solutions to the cannabis, CBD and hemp industries in Canada. CannGen writes the following lines: Property, Boiler and Machinery, Crime, General Liability, Products Liability, Product Recall, Directors and Officers Liability and Errors and Omissions Liability. With origins dating back to 2008 in California, CannGen is the first and largest Managing General Underwriter exclusively focused on offering an all lines solution to medicinal and recreational cannabis operations in all legalized states. CannGen teams have over 15 years of experience writing accounts in the cannabis industry and have participated in the creation of the first cannabis insurance policies.