An Interview with R.M. (Dick) Griffin of NFP Property & Casualty Services

A commercial lines insurance broker for more than 50 years, he recently became insurance consultant with NFP Property and Casualty Services, Inc. In his current role, Mr. Griffin works directly with clients and continues to support industry associations, providing a range of insurance coverage for the dietary supplement and life sciences industries. He specializes in commercial lines property and liability, workers compensation and life and health benefits. In 1996, Mr. Griffin formed the National Products Liability Insurance program for the U.S. dietary supplement industry and has been credited with the tremendous benefits that his programs have created for the supplement industry.
 
Health E-Insights: What’s your new company affiliation?

Mr. Griffin: I recently joined NFP Property and Casualty Services, Inc., a division of NFP Benefits Insurance Wealth Management Inc. as an insurance consultant and will work directly with clients as well as continue to support industry associations providing a wide range of insurance coverage for the dietary supplement and life sciences industries.
 
Health E-Insights: Why did you decide to make an insurance industry change?

Mr. Griffin: Effective Dec. 31, 2014, I elected to retire from the wholesale side of the insurance industry, working through insurance agents and brokers. I moved to the retail side working directly with the owners of dietary supplement companies in providing insurance consultation and coverage. NFP Property and Casualty Services, Inc. offers a host of professional services, including risk management expertise. As a consultant, I will be able to provide virtually any line of insurance coverage companies in the natural health and life science marketplace might need. Through NFP, both comprehensive coverage and competitive pricing can be tailored to the requirements of each insured company.
 
Health E-Insights: Tell us about your recent industry trade association award.

Mr. Griffin: At Natural Products ExpoWest this past March, The American Herbal Products Association (AHPA) presented me with the prestigious AHPA Herbal Hero Award in recognition of my outstanding contributions to the industry. As a commercial lines insurance broker with more than 50 years of experience specializing in products liability insurance, I formed the national Products Liability Insurance Program for the U.S. dietary supplement and natural products industry in 1996, and have been credited for the tremendous benefits that these programs generated for the dietary supplement industry. I was surprised and honored to receive this award.
 
Health E-Insights: You travel a lot for business. What’s your favorite city?

Mr. Griffin: I have been in every major city in the U.S. and my favorite is still the same: San Francisco. Like Tony Bennett, I guess you can say, “I left my heart in San Francisco.”
 
Health E-Insights: Is there a golden rule by which you live?

Mr. Griffin: If you know the answer, don’t ask the question.
 
Health E-Insights: What makes you laugh?

Mr. Griffin: Honest laughter from others.
 
Health E-Insights: Has the insurance industry changed in the last five years?

Mr. Griffin: Over the last decade the insurance industry has been parked right in the middle of every single national and international change and has been working hard to prepare coverage that will meet the needs of both personal and commercial insurance disasters. To properly explain the depth of these changes would take the help of many people, but just to give some perspective, consider the following situations where insurance is involved: cyber piracy, global warming, education, terrorism in the U.S. and internationally, and health insurance. Those are just four examples and the list keeps growing.
 
Health E-Insights: In what direction do you see the supplement industry moving?

Mr. Griffin: During the past decade the supplement industry has grown fast, and for the most part, professionally, due to the cooperation between the associations, which have worked very hard to standardize supplement products. From an insurance perspective, after ephedrine was banned, the claims have dropped both in number and severity to an almost unbelievably low level. The new crisis for the supplement industry seems to me to be the need for all supplement manufacturers, and others involved in distribution to be totally GMP compliant. All of the information coming out of the New York attorney generals’ office and other states, industry associations and the media, seem to indicate that there are going to be major regulatory changes for the dietary supplement industry. I have been told by the president of a major dietary supplement trade association that these regulatory changes could very well curtail the normal annual rate of growth the industry usually experiences.

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Sheldon Baker is well-known for creating nutraceutical brand marketing and public relations campaigns. He serves as vice president, strategic engagement, for the American Herbal Products Association. For Health E-Insights interview consideration, contact him at Sheldon@NutraInk.com. And follow him on Twitter @NutraInk.