POWERS Insurance and Risk Management, headquartered in St. Louis, Missouri, has launched an emerging risks division. This new sector will focus on insurance risk strategies that are aligned with cyber, technology, cannabis and green energy, the company said.
JD Powers, president of POWERS Insurance & Risk Management, will lead the division along with POWERS’ Risk Advisor Chris Sullivan. Both have expertise in helping clients navigate risks in the cyber and technology industries.
With the recent legalization of medical marijuana in Missouri, POWERS Insurance will utilize its collective risk management knowledge from comparable markets to help protect their clients’ businesses, employees, and stakeholders.
JD Powers said green energy space is the least developed and explored of the four markets to date but “we are excited to strategically work with our partners to alleviate potential uncertainties they may face.”
The company embraces sustainability with its program “Plant A Tree. It’s Good Policy.” POWERS plants a tree for each new policy holder and, since it began in the fall of 2017, the company has planted more than 600 trees.
“Even though marijuana has been legalized in other states, the market is still new to the insurance industry,” Sullivan said in the firm’s media announcement. “Insurance coverage varies dramatically from one company to the next, and we can help business owners most effectively comprehend the exclusions between policies.”
Sullivan added that partnering with POWERS’ insurance risk management team, which “understands business growth plans and how insurance coverage impacts those starting in the cannabis industry, is crucial to those building a start-up cannabis operation both in Missouri and throughout the U.S.”
POWERS Insurance and Risk Management provides personal and business insurance, surety and risk management.
Source: POWERS Insurance and Risk Management
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