Cannabis Program Background
Over the past several years, Next Wave has focused on developing and expanding the most comprehensive Cannabis Insurance Program available in the market. The program is backed by four “A” rated insurance carriers and reinsurers offering various lines of coverage. The cannabis program was originally launched in 2005 by MMD Insurance and underwritten by Lloyds of London “Lloyds”. MMD was the pioneer of cannabis insurance in the US. Next Wave acquired MMD Insurance Services in 2014 and merged the operation and brand into Next Wave. The combined MMD/Next Wave management then spent the following year designing enhanced policy coverage with expanded limits. The new program launched in February 2015 with our new carrier partners. With the exit of Lloyds from the cannabis market, Next Wave immediately become the primary market for agents and brokers looking to place cannabis accounts.
On September 1, 2017, Next Wave launched a wholly owned subsidiary, CannGen Insurance Services, LLC “CannGen” to act as the newly branded MGU for the Cannabis Insurance Programs.
Brands: Next Wave Insurance Services
CannGen Insurance Services