in , , , , , , ,

Cannabis Broker Spotlight: Embroker’s Samuels Says Diving in Was Key to Success – Insurance Journal

Editor’s note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a few tips for those interested in a little professional development.

Insurance flows through the blood in Jeffrey Samuels’ veins, but it’s cannabis that’s been on top of his mind for the past few years.

Samuels is vice president in the cannabis practice at Embroker. He followed his father’s footsteps into insurance over eight years ago, and along the way he helped found HillviewMed, a medical marijuana grower.

He is a long-time member of the National Cannabis Industry Association’s risk management and insurance committee, he serves as an advisor to the American Israel Cannabis Association and he’s a mentor for Greenhouse Ventures LLC, a business accelerator specific to ancillary startups in the cannabis industry.

Jeff Samuels

Samuels spoke with Insurance Journal about his experience as a cannabis broker.

Insurance Journal: Why did you get in the cannabis and insurance space?

Samuels: Insurance has been a family business, which I observed from afar since my earliest memories of my father. As I entered the workforce in 2009 technology businesses began to evolve which caught my interest. I spent my first five years post-college working in SaaS, adtech, and mobile commerce which opened my eyes to the world of high growth, venture funded businesses. When I was ready to make the jump into the insurance industry, insurtech became popularized as the future of the aging business.

Coincidentally that same year New York had just passed their Compassionate Care Act ushering in medical marijuana into the state.

I became enthralled with the science, advocacy and community building in the early days of New York City’s cannabis scene. The people, the addressable market, and the endless opportunities drove me to double down and make the long-term commitment to become an expert in the space.

IJ: Has this been a good financial decision so far?

Samuels: Staying focused on the cannabis vertical has been one of the best career decisions of my life. I’ve always had the attitude of challenging the status quo and felt like I shared many of the same ideals that the early cannabis entrepreneurs help in high regard.

At first from a production standpoint it was extremely difficult to place business which directly impacted me financially. The longer I stuck with it and the more I was educated on the industry as a whole, the easier the placements got.

As my network grew and continues to expand, six years of relationships and hard work is paying off. This sector has a ways to go and I suspect many producers would be turned away if they were to switch focus from a more mature market assuming they were going to immediately “crush it” in cannabis. Long-term I do believe the upside is endless and this sector is exactly where I want to be.

IJ: What’s the hardest thing about the cannabis industry to deal with?

Samuels: One of the hardest things to deal with in the cannabis industry is also one of the things I love the most about the business: the wide spectrum of personalities you will interact with on a day to day.

Our team at Embroker services some of the largest MSO’s in the world along with brand new mom and pop startups. Priding myself and team on offering white-gloved service to compliment our software platform, my team could spend more time than necessary on educating new entrepreneurs for very small premiums.

Part of my commitment to the space has been to never turn away an individual who needs help as long as they hold the same level of respect for our team’s work. Long-term many of these brand new entrepreneurs who appear to be tiny on paper become the whale customer you want to keep. There is nothing that makes me happier than watching my clients’ journey from idea to IPO – or however they measure success.

IJ: What insurance product is the most difficult to obtain for your cannabis industry clients? Why?

Samuels: As the cannabis industry ages, I would not say products are difficult to obtain – my comment is always is the coverage is appropriate, dense, and valuable to the client’s business.

One area in particular I think could use improved products is around IP/and patent coverage, which has become popularized in the tech landscape. There has been consistent debates around what is patentable and defensible in the cannabis industry. I think pricing and federal status adds to the complexity here.

IJ: What two or three tips do you have for brokers entering the business of insuring cannabis?

Samuels: Do not just dip your toe in, cannonball in the deep end or don’t get in the pool.

Stay focused on industry headlines and educated on breaking news. Daily.

Be an advocate. Profiting off the industry without having the full picture of all of the issues will lead to a bunch of lost deals. If you want to service the industry do it for the right reasons and commit yourself to the long term growth of cannabis.

Was this article valuable?

Here are more articles you may enjoy.

Written by homegrownreview

53 Comments

Leave a Reply
  1. Hey! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.

    If you know of any please share. Appreciate it!

  2. I read this post completely on the topic of the comparison of most recent and preceding technologies, it’s remarkable article.

  3. I loved as much as you’ll receive carried out right here.
    The sketch is attractive, your authored material stylish.
    nonetheless, you command get got an impatience over
    that you wish be delivering the following. unwell unquestionably come further formerly again as exactly the same nearly
    very often inside case you shield this hike.

  4. I don’t even know the way I ended up here, however I thought this publish was
    once good. I don’t realize who you’re but definitely you’re going to a well-known blogger when you are not already 😉 Cheers!

  5. This іs really attention-grabbing, You аre
    a very skilled blogger. Ӏ’ve joined your feed and stay up
    for іn search of extra of your fantastic post.
    AԀditionally, I’ve shared your site in my social networkѕ!

  6. Only wɑnna remark that you have a very nice web ѕite, I love thе
    style and desiɡn it actually stands out.

  7. Hmm it looks like your blog ate my first comment (it
    was extremely long) so I guess I’ll just sum it up what I had written and say,
    I’m thoroughly enjoying your blog. I as well am an aspiring
    blog writer but I’m still new to everything. Do you have any tips and hints for first-time blog writers?

    I’d certainly appreciate it. https://lucabet168.com

  8. This iѕ very faѕcinating, You are an overly professional blogցer.
    I’ve j᧐ined your rss feеd and look forward to in the hunt fоr extra of your fantаstic ⲣost.

    Also, I’ѵe shared your website in my social networks!

  9. I am glad to be one of the visitors on this great internet site (:,
    regards for posting.

  10. Hi! Ɗo you know if they make any plugins to protect against hacҝers?
    I’m kinda рaranoid about ⅼosing everything I’ѵe worked
    hard on. Any recommendations?

  11. I do agree with all of the ideas you’ve presented in your post.
    They’re very convincing and will certainly work. Still, the posts
    are too quick for starters. Could you please extend them a little from
    next time? Thank you for the post.

  12. Еxcellent, what a wеb site it is! Thiѕ website giveѕ helpful data to
    us, keep it up.

  13. Ꮃonderful, what a webpage it is! This webpɑge presents valuable data to
    us, keep it up.

  14. I intended to put you that tiny note to be able to give thanks
    as before for your personal precious suggestions you have
    featured on this page. It is so particularly generous of you to deliver without restraint
    precisely what most of us could have supplied for
    an e-book to help make some cash for themselves, principally now that you might have done it in case you wanted.
    The concepts in addition served to provide a fantastic
    way to understand that other individuals have similar dream the same as my own to learn very much more regarding this matter.
    I’m certain there are lots of more pleasurable situations
    ahead for folks who scan through your website.

  15. Marᴠelous, what a web site it is! This ѡeblog gives valuable data to us, keеp it սp.

  16. Excellеnt blog here! Also your website loads
    up very fast! Whаt host arе you using? Can I get your affiliate link to yⲟur host?
    I wish my web site loaded up aѕ quickly as yours lol

  17. Good day! I know this is somewhat off topic but I was wondering which blog platform are you using
    for this website? I’m getting sick and tired of WordPress because I’ve had issues with hackers and I’m
    looking at alternatives for another platform. I
    would be fantastic if you could point me
    in the direction of a good platform.

  18. Sᥙperb, what a weblog it is! This weblog presents useful datа to us, keeр it up.

  19. I loved as much as you will receive carried out right here.
    The sketch is tasteful, your authored subject matter stylish.
    nonetheless, you command get bought an impatience over that you
    wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly a lot often inside case you shield this increase.

  20. of course like your web-site but you need to check the spelling
    on several of your posts. Several of them are rife with
    spelling issues and I in finding it very troublesome to inform the reality
    then again I’ll certainly come again again.

  21. Oh my goodness! Awesome article dude! Thank
    you so much, However I am having problems with your RSS.
    I don’t know the reason why I cannot subscribe to it. Is there anyone else having identical RSS issues?

    Anyone that knows the answer can you kindly respond?
    Thanx!!

  22. This article obtained 34 testimonials and 84% of readers who voted found
    it useful, incomes it our reader-approved standing.

  23. In the house, hold your aged dog comfy by providing him with a dog bed that cushions and helps his
    joints.

  24. The right pet meals will enrich your greatest buddy’s life, offering them with
    the vitality and nutrients they want.

  25. The coronary heart formed leaves of this kind of succulent are the explanation why it’s also named love heart
    plant.

  26. How Does Audible Work?
    First, you take a free trial of Audible and receive a free
    audiobook. This could be one of perhaps an originals
    or the classics.
    At the end of your trial, you can buy a monthly subscription of Audible.
    You want to register to your membership.
    are awarded by Audible with one credit, Monthly.
    It is possible to use this credit to purchase
    Audible audio books in different categories including technology, fashion, love,
    social media, advertisements, etc..
    You can buy Audible credits or pay per audio book, if you would like to buy more books.

    Interestingly, a member may download just 2 of six star Originals
    about the first Friday of each month. They do not cost any credits.
    These Audible Originals can be kept by you .
    You own all Audible books on your library if you cancel your subscription.
    You can listen to Audible books anywhere using apps on your telephone,
    Windows or Mac computer or Alexa apparatus.|

    With more than 300,000 names to its name, Audible is the
    world’s biggest seller and producer of audiobooks. https://nogorit.com/amazon-com-presents-free-of-cost-one-month-audible-subscription/

  27. How Can Audible Work?
    First, you receive a complimentary audiobook and take a free trial of Audible.
    This really is one of the classics or perhaps an Audible originals.

    At the conclusion of the trial, you can buy a monthly subscription of Audible.
    You will need to sign up for the membership.
    are awarded by Audible with one credit, Monthly.
    It is possible to use this credit to purchase Audible audio
    books in different categories such as technology,
    fashion, love, social networking, ads, etc..

    You can purchase more Audible credits or pay per
    sound publication if you want to buy books.

    Lately, a member may download 2 of six Audible Originals in the first Friday of each month.
    They don’t charge any credits. It’s possible to continue to keep these
    Audible Originals forever.
    You have Audible books on your library in the event you cancel your subscription.
    It’s possible to listen to Audible audio books
    anywhere using apps on Windows, your telephone or
    Mac computer or Alexa apparatus.|

    With more than 300,000 titles to its name, Audible is the world’s biggest
    vendor and manufacturer of audiobooks. http://gsblavision.com/?option=com_k2&view=itemlist&task=user&id=776501

  28. Several species have clear window-like leaves that
    enable gentle to penetrate even when the plant is buried.

  29. Make sure that the nail does not curve again into the dog’s paw
    or is too sharp to trigger unintended damage.

  30. Fortunately, you’ll be able to protect your canine against most parasites with a simple monthly topical or oral software.

  31. Hello there! Do you know if they make any
    plugins to help with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not
    seeing very good success. If you know of any please
    share. Many thanks!

    Feel free to surf to my website: fun88

  32. Does Audible Work?
    You get a free audiobook and take out a free trial of Audible.

    This could be among even an Audible originals or those classics.

    At the conclusion of your trial, you can purchase a
    monthly subscription of Audible. You need to register for the membership
    with your Amazon account.
    You are awarded by Audible with one charge Monthly.
    It is possible to use this credit to buy Audible audio books in various
    categories including technology, fashion, romance, social networking, advertisements, etc..

    If you wish to purchase more books, then more Audible credits can be bought by you or pay per sound publication.
    Lately, a member may download 2 of six star Originals on the first Friday of every month.
    They do not charge any credits. These Audible Originals can be kept by you eternally.

    You have all Audible audio books in your library in the event
    that you cancel your subscription.
    It is possible to listen to Audible books anywhere using apps on Windows, your mobile or Mac computer or Alexa device.|

    With over 300,000 titles to its title, Audible is
    the world’s biggest vendor and manufacturer of audiobooks.

    Audible Review http://ecoups.net/groups/audible-customer-review-is-amazons-audiobook-service-actually-worth-the-subscription/

  33. How Can Audible Function?
    To begin with, you get a complimentary audiobook and take a free trial
    of Audible. This could be one of even an originals or the classics.

    At the conclusion of your trial, you can buy a monthly
    subscription of Audible. You will need to register to your membership using your Amazon account.

    Audible awards you, each month. You can use this credit to purchase Audible audio books in different categories including technology, fashion, romance,
    social media, ads, etc..
    If you wish to purchase more books, then more Audible
    credits can be bought by you or pay per sound publication.
    Interestingly, a member may download two of six Audible Originals.
    They don’t cost any credits. These Audible Originals can be kept by you
    .
    You have all Audible books on your library even if you cancel your subscription.
    It’s possible to listen to Audible books anyplace using apps for Windows,
    your mobile or Mac computer or Alexa apparatus.|

    With more than 300,000 titles to its name, Audible is the world’s biggest
    seller and producer of audiobooks. http://www.wellnesscenterginalalous.be/UserProfile/userId/259159.aspx

  34. Plant proteins usually are not essentially dangerous in your dog, however they should be secondary to animal proteins.

  35. Hi there friends, its enormous piece of writing on the topic of teachingand
    entirely explained, keep it up all the time.

    Also visit my blog … w88

  36. 57124 427185Hi there. Quite cool internet site!! Guy .. Beautiful .. Amazing .. I will bookmark your internet site and take the feeds additionallyI am glad to locate so considerably beneficial information appropriate here inside the post. Thanks for sharing 39823

Leave a Reply

Your email address will not be published.

Cannabis Legalisation: Where is Medicinal Cannabis Legal in the World? – The Cannabis Exchange

Jackpot: Cannabis REIT has $120M in capital to lend to operators – The Real Deal