Is there a liability coverage gap for the sale of THC-infused drinks, with or without the addition of a liquor liability form? Does the definition of “intoxication” apply to only alcohol or more broadly?
Insured event triggers include impairment, government recall, malicious product tampering and product extortion.
For many of the small business owners who have entered the retail cannabis market, ensuring they have the correct type and sufficient levels of insurance coverage may not be top of mind.
As states expand legalization, the demand for cannabis is growing, creating both opportunities and challenges for independent agents to enter the market.
Many cannabis businesses deal entirely in cash, which makes it hard to operate while under significant risk from theft.
One of the latest trends is retail consumption lounges, and agents should keep up to date with evolving regulation.
As the legal landscape evolves, so too does the establishment of cannabis-related businesses that require insurance coverage.
The rapidly evolving landscape of cannabis legalization and the increasing use among workers has many implications for agents who have never worked on providing such coverage.
“I consider myself an expert in regard to cannabis business operations and understanding all the business tiers—growing, laboratories and dispensaries,” says independent agent Tyler Cline. “Pairing that with my years of experience in the insurance industr
The insurance industry continues to struggle to keep up with the swift pace of marijuana legalization. Here’s what agents should consider with legalized cannabis and home, life, auto and health insurance.
