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Marketwire  07/16/2014 9:15 AM ET
Insurance Discounts Favor View Scan Usage in Colorado

BALTIMORE, MD -- (Marketwired) -- 07/16/14 -- View Systems, Inc. (OTCQB: VSYM), a Baltimore-based manufacturer of integrated weapons detection systems, has received a financial discount nod for providing an additional measure of security to marijuana producers and sellers in Colorado. The Alliance Insurance Agency of Coconut Grove, Florida is now offering its Colorado clients a 5% discount on liability and omnibus protection insurance coverage -- if they have installed the View Scan weapons detection system at the customer entrance of their marijuana dispensary or retail outlet. It is thought to be the first such discount measure for those distributors taking the extra effort to secure their establishments from criminal activity.

"No insurer is going to cover any of these establishments unless they have a camera system of some acceptable variety. However, placing a passive weapons detection system at the front door just makes sense to us and that's what the View System does -- it identifies the person, where the weapon is and records the incident," said William Mickey, President and Principal Broker for Alliance. "This kind of effort is a tangible deterrent and the actuaries quickly gave it the thumbs up." Alliance, whose license and credentials are recognized in Colorado through reciprocity, was one of the first insurance brokerages in the nation to design insurance products specifically for the emerging marijuana production, distribution and sales industry. These Alliance products are underwritten by Lloyds of London.

"We were most gratified to be selected for this security discount offering package by Alliance," said William Gaskill Operations Vice President of View Systems -- "In a public venue like dispensaries the only system that makes sense to the proprietor and the insurer is a View Scan." View Systems has moved aggressively into the marijuana dispensary market with a strategic marketing approach in partnership with HEMP, Inc. (PINKSHEETS: HEMP), which led the company into pursuit of security sales to Marijuana retail dispensaries and grow operations in Colorado and Washington. View just last month, added a former ATF agent as special security sales representative to address this market in Colorado, just last month.

Both View Systems and Hemp, Inc. are turning their eyes north to the States of Oregon and Washington. Oregon is gearing up for a referendum this November allowing for both medical and recreational marijuana sales and campaigning is picking up. While passage is not assured, adoption of the change is widely expected. On July first of this year, Washington State added recreational sales to their medical marijuana sales structure, which was already in place through previous legal changes. View and Hemp are planning to be players in both of these markets as the marijuana wave continues to sweep across the country.

About View Systems: View Systems, Inc. manufactures and installs weapons detection identification systems targeted at a broad range of government and commercial users. More information can be found at www.viewsystems.com

Forward-Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

Source: View Systems, Inc.

 

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