Cornerstone Risk Solutions LLC, a Denver, Colo.-based subsidiary of IMA Inc., has acquired CLIC Management NV LLC, a managing general agent of group-based insurance programs for the legal cannabis industry.
CLIC Management has offices in San Diego, Calif., and serves as the managing general agency for CLIC Risk Retention Group Inc., a cannabis-industry-owned insurance carrier.
CLIC founder Chris Payne said that by joining forces with Cornerstone, they are “creating the first risk retention group owned by licensed cannabis companies, with risk management and loss control services that meet their specialized needs.”
IMA Vice President and National Cannabis Practice Leader Michael Hennessey said the deal “will move the needle for all cannabis-related organizations, particularly those generating more than $50 million in revenue, and furthers our expertise and offerings in cannabis risk management.”
Was this article valuable?
Here are more articles you may enjoy.
Inside the Toxic Legacy of Georgia-Based Mulitbillion-Dollar Carpet Empire 
Maine Plane Crash Victims Worked for Luxury Travel Startup Led by Texas Lawyer 
Trump Demands $1 Billion From Harvard as Prolonged Standoff Appears to Deepen 
Zurich Insurance’s Beazley Bid Sets the Stage for More Insurance Deals 
