"First and foremost, by not having D&O protection to interest the highest caliber of board or executive team members, an operator is limiting the pool of candidates they can attract to guide their company," says Charles Pyfrom, CMO of CannGen Insurance Services, LLC. (Credit: shutterstock.com)
Cannabis companies need D&O not just to protect their current executives and board members but to attract leading talent in the space as well as draw in new investors to scale up the business, according to Charles Pyfrom, CMO of CannGen Insurance Services, LLC.
"First and foremost, by not having D&O protection to interest the highest caliber of board or executive team members, an operator is limiting the pool of candidates they can attract to guide their company," Pyfrom tells PropertyCasualty360.com. "A lot of clients tell me that adding D&O to their portfolio allowed them to attract board member X or investor Y. Absent that coverage, they couldn't have accessed that growth."
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
