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NFP buys Frontier Risk retail cannabis insurance business
The deal adds to NFP’s cannabis insurance offering, while Frontier Risk will focus on Strata Specialty for critical infrastructure and other specialized risks.
NFP has acquired the retail cannabis insurance business of Frontier Risk Group, expanding NFP’s insurance capabilities for cannabis operators. Financial terms were not disclosed, according to Coverager.
Frontier Risk provides insurance and risk management services to cannabis companies and other regulated-products businesses. After the transaction, Eric Schneider, senior vice president at Frontier Risk, will join NFP with the same title and report to Scott Foster, leader of NFP’s Healthcare and Life Sciences practice.
Coverager reported that the acquisition is intended to complement NFP’s existing life sciences business. Frontier Risk will shift its focus to Strata Specialty, its multi-program manager serving critical infrastructure and other specialized emerging risks.