Blue Diamond Ventures has officially entered the cannabis insurance industry through a fully executed joint venture (JV) agreement with DSC Risk Services.

The joint venture is named Cannabis Insurance Specialists, the company has announced.

Cannabis Insurance Specialists (CIS) offers risk management solutions and overall protection against loss to the legal cannabis industry. The company works with top rated carriers both national and international. CIS was formed as an equal public /private joint venture between DSC Risk Services and Blue Diamond.

DSC Risk Services is an independent insurance brokerage, representing A to AAA rated insurance providers. Cannabis Insurance Specialists will offer businesses within the legal cannabis industry a suite of insurance coverage options. These coverage options encompass all basic insurance coverage which includes but is not limited to Workers Compensation, Liability, Property and Asset Protection, and most importantly, Crop Protection.

Cannabis Insurance Specialists provide commercial insurance solutions for any business requiring coverage tailored to the needs of their marijuana enterprises. Growers, event coordinators, dispensary operators, caregivers, cooperative managers, edibles manufacturers, product manufacturers and retailers can rely on Cannabis Insurance Specialists.

"Cannabis Insurance Specialists is an excellent fit of our overall ECOSYSTEM, operational model," said Blue Diamond CEO Cleve Tsai. "We see CIS as a great revenue producer for the company. We have seized this opportunity to provide the current services to the legal cannabis industry, which is rapidly expanding. More importantly, our services are critically vital to the overall success of businesses. We offer peace of mind. The insurance industry has not closely observed this segment of the commercial marketplace. Blue Diamond has positioned itself to capture a good percentage of market share."

The company continues to build its infrastructure and our independent contract sales agents are ready to begin to market the company’s products and services to the cannabis and general commercial marketplace.

Blue Diamond has been working diligently behind the scenes to attract products and services, and the company’s efforts have been very successful to date. Blue Diamond has other deals within the pipeline and will update the market when warranted.