USA: Broker offering psychedelic medicinal cover

Rahn & Associates Inc. is offering insurance coverages for the psychedelic medicinal industry.

The Boca Raton, Florida-based broker has developed a program for businesses offering wellness and nutraceutical products that use psychoactive ingredients such as micro-dosing psilocybin.

Limits available are for directors and officers, up to $5 million primary limits; excess D&O and errors and omissions, $5 million to $20 million; and professional liability, up to $5 million primary, according to an email from a spokeswoman. Limits and deductibles vary by product dependent on company’s underwriting.

Covered entities include Ketamine clinics, drug and product developers, mushroom cultivators, early and late-stage research and development, and even private equity funds in the psychedelic sector and related ancillary businesses, according to the email.

https://www.businessinsurance.com/article/20210726/NEWS08/912343476/Broker-Rahn-&-Associates-Inc-offering-psychedelic-medicinal-cover

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