Continental Heritage Insurance Co. Chooses CHSI Connections for Cannabis Liability Launch in California
Henderson, NV—August 28, 2018 – CHSI Technologies, Inc., a provider of enterprise-class insurance software, is pleased to announce that Continental Heritage Insurance Company, a specialty insurer for emerging markets based in Cleveland, Ohio, has chosen CHSI’s Connections® insurance management software to facilitate success in its launch of a Cannabis Liability product for the marijuana-related businesses.
Continental Heritage, which provides specialty surety bonds across the alternative energy, construction, court, and environmental industries, recently was approved by the California Department of Insurance to offer its products liability and recall insurance for the California Medicinal and Adult-Use Cannabis markets, an industry underserved of real insurance products.
The company is implementing CHSI’s Connections® modular suite of cloud-based core systems software, including policy administration, underwriting, CRM, billing, and the ability to create customized reports. Connections® will enable Continental to ramp up quickly to serve the growing needs of the California Cannabis market, notes Lee Mashore, CHSI’s chief product officer. According to Bloomberg, marijuana is already a multibillion-dollar business in the United States, and Continental Heritage is stepping into a market where some of the largest insurers are unwilling to underwrite its risk.
“Being first to market in an underserved area such as Cannabis Liability will require the utmost in enterprise-class software that is tailor-made to fit the unique and fast-growing needs of a carrier like Continental Heritage,” said Mashore.
Continental Heritage is hoping to insure 200 such businesses in California this year alone, and is evaluating expansion into Colorado, Nevada and Washington.
About Continental Heritage Insurance Company
Continental Heritage Insurance Company provides specialty insurance products to entrepreneurs operating in new or difficult markets. Since 1980, Continental Heritage has underwritten surety bonds valuing more than hundreds of millions of dollars across a range of industries. An admitted carrier in 30 states, Continental Heritage currently sells alternative energy, construction, environmental, contract and court bonds, and most recently, marijuana bonds.