BOCA RATON, FL.; March 15, 2023 – R&A PSYINS, an independent insurance broker that provides necessary insurance coverages to the psychedelic medicinal industry, today announced a strategic partnership with Nucleus Holding, Inc. “(Nucleus”), a venture studio which owns and operates a portfolio of companies that connects stakeholders within the psychedelics industry.
This landmark partnership was established to address a paramount issue facing psychedelic medicinal businesses. While more state legislators are pushing forward psychedelic policy reform – opening the door for more therapists and clinicians, retreats, and investors to enter the space – it is extremely difficult for psychedelic medicinal businesses to access insurance in this current hardened insurance market, leaving them exposed to a wide spectrum of risks.
Psychedelic therapies are in the highest risk pool for malpractice and other claims. Ketamine clinics, therapists and other practitioners need to understand, mitigate, and protect themselves from these perils. For companies that manufacture, test and distribute psychedelics for medicinal purposes, there are a host of additional risks, particularly if the goal is to go public. In response, R&A PSYINS developed a risk management program that offers specialty lines of medical malpractice insurance policies, including Professional Liability/Errors & Omissions, General Liability, Directors & Officers Liability, Product Liability, IP Defense/Enforcement, Cyber Defense/Data Breach and Workers’ Compensation coverage.
Nucleus, which is wholly owned by the venture capital firm, Iter Investments, is comprised of technology, data, and media assets intended to deliver intelligence, education, and opportunities to psychedelic industry stakeholders. The company’s acquisition of Psychedelic Invest and Neuly in 2022 was the foundation for its robust ecosystem. With its proprietary search technology, vast database, and suite of educational assets, Nucleus is helping to propel transformative health treatments forward.
“Both of our companies are at the forefront of the psychedelic medicinal movement,” said Eric Rahn, Managing Director, R&A PSYINS. “With this partnership, stakeholders throughout Nucleus’ entire ecosystem can access psychedelic medicinal insurance solutions and coverages they need to protect their business, attract, and retain qualified officers and directors, and bring new and innovative treatments to market.”
This new partnership will benefit all stakeholders in Nucleus’ robust ecosystem by providing them access to critical insurance coverages that will ensure they are fully protected and in compliance with state and federal HIPPA regulations.
“We couldn’t be more excited to partner with a company like R&A PSYINS,” said Logan Lenz, CEO of Nucleus. Managing risk in this nascent industry is so critical and we are ecstatic to be able to work with such an experienced team to better educate and equip industry stakeholders with the protection they need.”
About R&A PSYINS
R&A PSYINS is a division of Rahn & Associates, an independent insurance broker that provides specialty lines of insurance coverages for highly regulated and complex industries, such as psychedelic medicine. Our extensive network and long-standing relationships with industry-leading insurance companies enables us to provide licensed therapists and clinicians, Ketamine clinics, drug and product developers, mushroom cultivators, early and late-stage research and development, wellness retreats, as well as private equity and investors in the psychedelic sector, with Business Liability insurance coverages. For more information, visit https://www.psy-ins.com/.