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

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

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

“I believe one of many issues we do this helps to fulfill the purchasers’ wants is our groups are very entrepreneurial,” stated Donahue in this interview. “Our brokers are commissioned brokers; they don’t earn cash except they get the deal performed for his or her buyer. So, they’re very centered on discovering the best 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.  

“In the event you go a couple of years again, [cannabis] was one of many few video games on the town, so we knew it and received a popularity for it. We understood what a superb threat was and what a foul threat was and learn how to place it and who to interchange it with and what coverages to [provide],” he stated.

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

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

Donahue advises retailers to “be demanding about getting solutions shortly …, particularly on this market as a result of it is advisable to be. You want quite a lot of work performed to put a few of these tougher dangers.”