Regarding successful commercial cannabis company — property insurance is an integral piece of the puzzle. However, legal considerations surrounding insurance for cannabis companies are incredibly nuanced and cumbersome due to state and federal regulations. Furthermore, the many types of property insurance within the scope of cannabis operations are extensive. Whether you’re a facility owner or a tenant, property insurance is vital for your cannabis-based business to thrive. Soon, you’ll learn how property insurance doubles as a risk management program and who to trust with in-depth property insurance for cannabis operators. Why You Need Property Insurance as a Cannabis Operator As…

When a cannabis operator thinks of insurance, typically the basic coverages are considered: property insurance on the facility and contents liability coverage for the premises and product workers’ comp for their employment force commercial auto for company-owned vehicle While general & product liability policies cover bodily injury, property damage and personal injury, these policies will always either exclude or sub-limit civil and criminal suits pertaining to employment-related practices. Cannabis operators face the same HR and employment-related challenges as any other industry. In the era of Covid, the emerging and growing cannabis industry is on a hiring-spree whereas other established industries…

As a cannabis insurance risk manager, one of the questions I commonly hear from my clients is centered around how to manage their insurance program from a contractual alignment perspective. To put it simply, my clients want to make sure the vendors and other businesses they work with have the proper insurance in place … which will also reduce the risk of the cannabis operator getting pulled into a claim that should rightfully fall on another business. Before we get too far into the nuances of contractual alignment, I’d like to first explain a key difference between risk management and…