Cannabis Insurance: Policies Your Business Needs
Does Your Cannabis Business Need Insurance?
The cannabis sector has certain characteristics that distinguishes it from other types of businesses; nonetheless, all companies must incorporate components of protection and preservation. The same way banking has been a contentious issue for decades; cannabis insurance has a similar reputation until recently. Today, however, the process of obtaining insurance coverage for all sectors of the industry is less time-consuming and complicated. When it comes to examining policies, though, diligence is still essential.
Examples of exceptionality include the fact that certain cannabis-related enterprises are subject to the same general liability and other risks that agricultural and industrial businesses are subject to. In addition to fires, both from external and internal sources, other marijuana businesses are particularly vulnerable to theft, general liability, and product liability, with more enterprises facing the greatest risks in these areas. Aside from that, every state mandate seed-to-sale technology, with both medical and recreational products being traced back to their respective state's regulatory divisions. All businesses must comply with the laws of their individual states to maintain a license to operate, according to their respective states.
Let us to ensure your protection from seed to sale with KEL Insurance:
Distributors: As a cannabis distributor, you are in charge of the procurement, sale, and transportation of cannabis and cannabis-derived goods between licensed firms in your territory. The transportation of cannabis goods between businesses is your duty, as is ensuring that all third-party testing is conducted, and that all product packaging and labelling complies with applicable state laws and regulations.
Processors and Manufacturers: A large number of the standards and regulatory regulations that apply to vendors of ordinary consumer-based items are also applicable to processors and makers of cannabis and hemp extracts, as well as edible products. With a thorough understanding of the risks connected with such requirements, KEL Insurance gives customers advanced coverage options.
Testing Laboratories: Every day, more and more states are becoming involved in the testing of cannabis products. Insuring testing labs against general and professional liability risks is the specialty of KEL Insurance.
Micro Businesses: We provide services to marijuana, CBD, and hemp businesses in order to aid them in their ongoing growth and development. Whatever type of business you are in, whether it is a retail dispensary or a vertically integrated enterprise, we can help.
Cultivators: Farmers are exposed to a broad range of risks, including fire, theft, and equipment failure. KEL Insurance understands this and offers a variety of coverage options. In order to mitigate or decrease many of these risks, our primary focus is on providing suitable solutions.
Dispensaries: Crime, vandalism, arson, and theft are all potential threats to a dispensary's operations, which can occur at any time. If a calamity were to strike, most dispensaries would be unable to get back on their feet without incurring significant financial hardship. We provide general and product liability insurance, as well as property coverage, among other services, to help you reduce the risk connected with these dangers.
In order to protect your company, KEL Insurance can assist you in selecting and customizing the appropriate cannabis insurance coverage for you. Our representatives are dedicated to providing great customer service as well as straightforward suggestions.