NFP, an Aon company, has acquired the retail cannabis insurance business of Frontier Risk Group, expanding its capabilities in the cannabis and life sciences sectors.
Frontier Risk specializes in providing insurance and risk management solutions to cannabis companies and other businesses operating in regulated industries. The firm combines industry expertise with advisory services designed to help clients manage changing regulations, operational exposures and specialized insurance needs.
As part of the transaction, Eric Schneider, senior vice president at Frontier Risk, will join NFP in the same role. He will report to Scott Foster, leader of NFP’s Healthcare and Life Sciences practice.
NFP President of Commercial Risk Tom Gillingham said the acquisition adds specialized expertise in a sector characterized by evolving regulations and complex risk exposures. Combining Frontier Risk’s cannabis industry knowledge with NFP’s broader risk management capabilities is expected to expand the insurance and advisory solutions available to clients.
The business will complement NFP’s existing Life Sciences practice, strengthening the company’s ability to serve organizations operating in highly regulated industries.
Foster said Frontier Risk’s cannabis operation is a natural addition to the practice and will provide clients with greater industry expertise, specialized risk management guidance and access to NFP’s national resources.
Schneider said joining NFP will give the Frontier Risk team additional resources and specialty capabilities while allowing it to maintain the personalized service and cannabis industry expertise its clients currently receive.
Following the transaction, Frontier Risk Group will focus on expanding Strata Specialty, its multi-program manager that develops risk transfer and credit support solutions for critical infrastructure and other specialized and emerging markets.
The acquisition further expands NFP’s specialty insurance capabilities while providing its Life Sciences practice with additional expertise in the rapidly evolving cannabis sector.
Information for this article was provided by NFP. Views and claims expressed in this article are those of the source company and do not necessarily reflect the views of AgencyEquity.com. This article may have been edited with the help of AI.
