Delivering the precise options for hard-to-place dangers

As MJ Corridor celebrates its fiftieth anniversary in 2013, the corporate continues to develop good options for tough coverages and enhance its customer support, mentioned president John Donahue.

MJ Corridor is a generalist that provides a variety of options, from business packages to extra legal responsibility, and insurance coverage protection for earthquake harm, trucking traces, eating places, and hashish companies. Attributable to MJ Corridor’s success in these area of interest sectors, Insurance coverage Enterprise acknowledged it as considered one of its 5-Star Wholesale Brokerages and MGAs this yr.

It’s clear that MJ Corridor’s precedence is enhancing its relationship with clients and retail brokers.

“I feel one of many issues we try this helps to fulfill the shoppers’ wants is our groups are very entrepreneurial,” mentioned Donahue in this interview. “Our brokers are commissioned brokers; they don’t generate profits until they get the deal finished for his or her buyer. So, they’re very targeted on discovering the precise answer for the client.”

Donahue defined that MJ Corridor’s lead brokers are supported by groups, which allow them to construct robust relationships and reply promptly to retail brokers’ wants.

The enterprise has grown significantly due to hashish insurance coverage, a distinct segment the place MJ Corridor is likely one of the trailblazers.  

“When you go just a few years again, [cannabis] was one of many few video games on the town, so we knew it and obtained a repute for it. We understood what threat was and what a nasty threat was and how one can place it and who to interchange it with and what coverages to [provide],” he mentioned.

Because the competitors on this area of interest intensifies, Donahue has seen the emergence of extra choices for purchasers and higher expertise within the type of superior ranking and ease-of-use techniques. One other development he has noticed is brokers’ better understanding of the dangers and retailers’ better information of the merchandise. This permits corporations like MJ Corridor to develop protection extra precisely in response to customers’ threat administration wants.

In such a fancy market with excessive reinsurance prices, MJ Corridor stays optimistic about its capability to handle hard-to-place dangers.

Donahue advises retailers to “be demanding about getting solutions shortly …, particularly on this market as a result of that you must be. You want loads of work finished to position a few of these tougher dangers.”