Global insurance broker specializing on insurance products and services for highly regulated and complex industries and assets Rahn & Associates has launched a new risk management solution which is specifically designed for psychedelics companies.
The psychedelics medicine industry has been making huge strides and breakthroughs in recent times hence the boom in the industry. Founder and managing director of the company Eric Rahn, says that the industry bears a lot of risks since it’s still on its take off stage.
“With our new psychedelic medicinal insurance solutions, business can access the necessary coverages to protect their business, attract qualified officers/directors, and bring new treatments to market,” said Rahn.
Psychedelics companies have been finding it tough to find the right insurance covers or any suitable coverage in the current insurance industry leaving them widely exposed to a huge spectrum of risks.
Some of this risks are unseen and undetectable in the early stage of development, however as things start to progress they start becoming more and more visible. To make matters worse, each state in the United States has its own laws and regulations which keep on changing time after time.
“We are seeing an immediate need to provide customized risk management solutions for public and private psychedelic medicinal companies, including those operating in cannabis and nascent industries, that are deemed high-risk. Purchasing only General Liability Insurance from some major, traditional insurance company won’t work in the complex world of psychedelic medicine.” added Rahn.