Frontier Risk Group Secures $3m In Seed+ Funding To Underwrite The Cannabis Supply Chain And The Emerging Thc Beverage Market
Summary
"The first 18 months of Frontier Risk have proven the major need for specialty insurance solutions across cannabis and other regulated industries, and were thrilled to announce todays funding with the continued support of existing investors and the addition of Illinois Casualty Company as a major strategic investor," says Frontier Risk Founder and Chief Executive Officer James Whitcomb. "This capital will allow us to continue our robust brokerage growth and complete our transition to full-stack retailer and capacity provider, offering the entire cannabis supply chain a one-stop solution to a diverse array of insureds with underwriting specific to highly regulated industries. "Frontier Risk is breaking new ground in this exciting, high-growth category," said Arron Sutherland, Chief Executive Officer of Illinois Casualty Company. "James and his industry-leading team are writing the next chapter of innovation in cannabis insurance, paving the path for other emerging, highly-regulated specialty categories. "Leveraging its experience in building original, best-in-class cannabis supply chains by hand, Whitcombs team of brokerage, underwriting, and technology professionals from world-leading firms have built a proprietary underwriting engine, complete with rich cannabis datasets to offer reinsurers a clear understanding of the present risk associated with cannabis and where its going.Frontier Risk Group is driven by a mission to bring market insurance solutions backed by technology and data to improve access, pricing and risk capacity across highly regulated, specialty ecosystems.