Cannabis Business Insurance

The insurance industry is constantly evolving in an effort to provide protection for both early stage and established cannabis companies. Our specialty team has deeply rooted relationships with insurance carriers, allowing us to tailor a program to meet the mission of any organization, large or small. We will work with you to quantify risk, analyze exposures, and find competitive risk transfer solutions in a non-standard insurance market. We can provide:

• A dedicated Cannabis team comprised of industry experts and support staff
• Analytics and bench-marking of peer organizations to help quantify risk and forecast risk management solutions
• Holistic approach to financing employee benefit risk from fully-insured to self-insured and cannabis-specific captive solutions
• Expertise with employee benefit, and tough to place life insurance

From regulatory action to reputational injury, product liability and recall, we understand both the unique and everyday challenges and liabilities you face which is why we provide a broad range of risk management and insurance coverage solutions. If your organization is worried about any of the risks below, we can help.

• A hardening market with decreased capacity and increased rates, fueled by various carriers entering and exiting the cannabis space
• Evolving responses to product liability claims
• Social inflation escalating settlements and defense costs
• Limited capacity for large property and business income
• Implementation of delivery services
• Decreased capacity for crop and property coverage

Our Cannabis team provides customized plans to help both public and private organizations manage their myriad risk exposures and related insurance solutions, including.

• General Liability
• Products Liability
• Crop Coverage
• Products Recall
• Cyber
• Environmental Liability
• Workers’ Compensation
• Excess/Umbrella Liability
• Property / Business Interruption
• Automobile & Transportation
• Crime and Fiduciary Liability
• Kidnap and Ransom
• Builders Risk
• Directors & Officers
• Employment Practices Liability
• Key Person Insurance
• Employee Benefits
• Captive and Alternative Risk solutions

At Risk Strategies, you get a dedicated risk management consultant and partner with in-depth industry knowledge and 25 specialty practices. Our Cannabis practice is made up of passionate specialists with deep expertise in the risks and insurance specialties unique to your industry. We work with all departments in your institution to create effective programs at the best value.

• Risk Management (ERM) planning to identify, assess and mitigate risk to resolution
• Credentialed team members that have spent time working within the cannabis industry
• Risk engineers, actuaries and risk advisors that have the ability to review contracts as well as develop and deploy loss control solutions
• Risk Strategies Company owns the #1 MGA in the Cannabis space, Cannasure, a division of our One80 wholesale division.

Ed Flanagan, New England Regional Leader - eflanagan@risk-stratgies.com