Every cannabis company, regardless of size or what you do, has a cannabis general liability exposure. Without having cannabis general liability insurance in place your business can be left financially vulnerable to third-party claims.
What Cannabis Liability Insurance Covers
Cannabis General liability coverage can be a standalone policy or can be part of a Package or Business Owner’s Policy (BOP). This coverage safeguards your business’ finances and reputation in the event a customer or third party takes legal action against you or your employees.
Unfortunately, nearly anyone your business interacts with can make claims against your operations. Without the right insurance protection, these claims could cripple your cannabis business.
The following are types of claims covered by a Commercial General Liability policy:
Cannabis Product Liability is not always included when you purchase cannabis general liability insurance. Cannabis Product Liability Insurance will sometimes be issued as a separate insurance policy. This policy will provide defense for cannabis product liability lawsuits for any of the following:
What Cannabis Liability Insurance Doesn’t Cover
Cannabis Liability Insurance does not cover the following types of damage:
Reach out to me when you’re considering cannabis business insurance. I will discuss coverage’s with you, how each coverage works and assess how it fits into your risk management needs. I will provide you with comparative cannabis business insurance quotes from multiple insurance carriers so you can get the best possible rate.
As an insurance broker I help cannabis businesses manage risk through insurance. I'm available to discuss my experience or any questions you may have.
The information in this blog is accurate to the best of my knowledge. This blog is not a substitute for consultation with a licensed insurance broker to address the particular facts and circumstances of your individual risks.