Spotlight on Matt Medeiros

I interviewed Matt Medeiros recently for Episode 3 of my Podcast, Taking the Mystery out of Insurance. Matt specializes in content marketing, from blogging to podcasting, all the way up to email capture automation and social media. Essentially, Matt can do anything to help a business or professional build an effective brand.

He’s a man of many talents, generous with his time, always willing to help others. I’ve known Matt for more than 20 years. In fact, I was his first business client–he built a computer for my first insurance agency when he was still in college!

Slocum Studio is a business Matt established with his father and, through that business, Matt and his associates helped me design a couple of websites and create two logos. Currently, one of his ventures, SouthCoast.fm helps entrepreneurs in the South Coast of Massachusetts build their businesses. He also works for Pagely, which provides Managed WordPress Hosting.

To learn more about Matt and what he does, or to reach out to him for help with your content marketing needs, visit him at CraftedbyMatt.com or on Twitter at @MattMedeiros. You can also listen to Matt’s interview on the podcast to pick up tips about what you DO want to do, and what you DON’T want to do, on your website and with social media.

Later in the week, I’ll be publishing 2 short video excerpts of the podcast on my YouTube channel.

Cannabis in the Insurance Industry

Because the federal government classifies marijuana under Schedule I of the Controlled Substances Act, its cultivation, possession, use, and distribution is illegal under federal law. Not all the states agree with the federal government.

11 states have legalized the recreational use of marijuana, 35 states have legalized medical marijuana programs, and many of the remaining states are considering doing one or both.

One of the biggest problems faced by those working in the cannabis industry–and insurance companies and agents working with those businesses–relates to money. Because cannabis businesses are considered illegal operations by the federal government, federally regulated banks won’t do business with them. A number of federal laws–including RICO and money laundering statutes–impose reporting restrictions and penalties on banks who don’t comply. Because these banks are concerned about repercussions by the federal government, they won’t open accounts for anyone in the cannabis industry.

Some local and county banks have been working with cannabis business in states that have legalized marijuana but the majority of these business deal strictly in cash, and face many challenges because they have a great deal of cash on hand. When a cannabis business can obtain insurance, the carrier will require specific and strict conditions to be met in connection with security … because of the crime exposure. Criminals targeting cannabis businesses are far more interested in finding cash than they are pot plants.

For more information about this topic, listen to today’s podcast, or check out any of the following resources: