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Finding Insurance for Cannabis Companies: What You Need to Know

As with any other major industry, access to quality insurance coverage is of the utmost importance for Cannabis companies. Most big-name insurance carriers, however, won’t come near the Cannabis industry due to the plant’s classification as a Schedule 1 drug, which also makes it federally illegal. With so many vertical moving parts, Cannabis companies need insurance for equipment, employee benefits, E&O, and various other aspects of their operations.

There are, however, plenty of insurance companies that will write policies for Cannabis businesses, and it appears that there isn’t a whole lot that they won’t cover (for a price, of course). 

The first step in getting the coverage that companies need is finding an insurance agent that is knowledgeable in the Cannabis industry’s needs and requirements, and having them tailor a policy package that suits your business’ vertical structure. By consulting with an experienced agent, the Cannabis...

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