Background

Kristopher Stegall, the Co-Founder of Robin Glen, approached Modern Life for help with a difficult-to-insure client. The client had a criminal history, including multiple motor vehicle charges, and was running a new business in the cannabis industry.

Due to the client’s criminal record, Stegall knew securing coverage for his client would be challenging. Additionally, while many states have legalized the use of marijuana, it remains illegal at the federal level, and anti-money laundering regulations make this industry particularly difficult to secure coverage for. 

Stegall said, “Due to my client’s history and the industry he works in, I knew securing coverage would be a challenge. He would likely have been denied coverage without a thoughtful approach and carrier outreach.” 

Goals

• Secure Key Person coverage through a term policy
• $2 million of coverage
• Standard carrier rate

Our approach

Modern Life’s team of experts contacted various insurance carriers and spoke with their senior leadership regarding the case. Our experts laid out the client’s case for coverage by highlighting his W2 income and tax history and explaining the circumstances around his criminal record, noting that the incident occurred several years ago. Modern Life also mitigated the carrier’s concern regarding the driving history by repositioning the underlying events in a better light. 

The results

Through our careful case presentation and deep-rooted carrier connections, Modern Life secured a standard rate for the client that otherwise would have been highly rated or even denied coverage. The client received the full $2 million of coverage he needed for his business. 

Stegall said, “I was very happy to be able to present my client with the offer he needed to secure coverage for his business. Modern Life made the entire process easy from start to finish. This case is a great representation of why we love partnering with Modern Life. Their thoughtful approach makes a difference for our team and our clients.”

Next steps

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