Helping Your Cannabis Business Grow
The cannabis industry faces unique risks and uncertainties. Risk Strategies is a specialist with the expertise, market access, and focused approach you need to ensure your business stays on track for success.
Risk Strategies Cannabis Industry Practice
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 benchmarking of peer organizations to help quantify risk and forecast risk management solutions
- A holistic approach to financing employee benefits risk from fully insured to self-insured and cannabis-specific captive solutions
- Expertise with employee benefits, 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