June 14, 2022
What You Need To Know from a Cannabis Insurance Agent In Colorado
About Cannabis Business Owner Liability
As a business owner in the cannabis field, what are you liable for? As a business owner in cannabis; whether recreational marijuana, medical marijuana, hemp, or CBD if you are a business owner, investor, venture capitalist, silent partner, admin, or CFO, you are responsible for insuring your business, and your assets, and your employees.
Things like employee insurance come to mind which is called workman’s comp insurance. product insurance, theft & fire, storage of others; Building Insurance. Crop Insurance and inventory Etc. and much more!
We have developed a checklist for Cannabis Business Owners’ Liabilities:
For Owners and Managers/Admin like you!
Please make sure you have insurance in place and are properly insured as a business owner in cannabis.
The days of “we didn’t know” are long gone when it comes to doing diligence in operating a cannabis co.
Here are the liabilities you should consider being the owner or operator of a cannabis business.
Whether grow/cultivation, lab, or retail dispensary the below should be considered!
- General Liability
- Products Liability
- Medical Expenses
- Damage to Rented Premises
- Personal and Advertising Injury
- Completed Operations
- Bodily Injury
- Property Damage
- Building Coverage
- Loss of Income
- Business Personal Property
- Equipment Coverage
- Completed Stock and Inventory
- Goods in Process
- Stored Product
- In Transit Product
- Commercial Auto
- Excess liability aka Umbrella
- Crop; seed, veg, flowering, harvested, curing, or cured.
- Professional Liability
- Errors and Omissions
- Directors and Officers
- Workers Compensation
- Employee Benefits
- Employee theft or dishonesty
- Equipment Breakdown
- Sewer or water backup
- Valuable Papers and Records
- Cyber Liability
- Terrorism Coverage
- Earthquake, flood,
- Event or tradeshow coverage
- Hired and Non-Owned Auto
There are more options than what is listed, and these can all be built and tailored to a package that is perfect for you. Please call us today at 720-999-3345 and let us know how we can help get you started!
We are happy to answer any questions in regards to Cannabis Business Owner’s Liability and insurance!
Free insurance reviews and quotes: Let us broker your account and help find your best market option!
Ready to learn more about insuring your cannabis & hemp products? Then contact us at (720) 999-3345 or at info@CannabisInsuranceBusiness.com. You can also learn more about CIB at https://cannabisinsurancebusiness.com/about
Colorado-based and pushing the industry further one step and state at a time. Proudly serving all 50 states.
Pushing the industry further one step and state at a time. Proudly serving all 50 states. – Cannabis Insurance Business of Loveland Colorado
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