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The Risk Exposures for Cannabis Industry in 2020
There is a growing concern over the risk exposures facing the cannabis industry for 2020. However, it may not be what most people would expect such as problems with slip-and-falls at cannabis dispensaries, crops being ruined by extreme weather, or even adequate quality control issues. In fact, Rocco Petrilli, board chair and chief operating officer […]
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3 Biggest Concerns for the Cannabis Insurance Industry
With the rapid growth of the cannabis industry over the last several years, the U.S. economy has seen a significant impact that ranges into the billions. For example, in 2018, cannabis sales reportedly reached $10.4 billion and this amount is projected to double by 2022. In addition to the influx of cash from the industry […]
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Do Cannabis Wholesalers Require Insurance?
Wholesalers and distributors of cannabis engage in the sale of goods or merchandise to retailers or other distributors who, in turn, sell to the public. Products are typically stored and shipped out of the warehouse or distribution center to the store. With medical cannabis legal in 33 states and recreational cannabis also legal in 1/3 […]
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Do Third-Party Hemp Harvesters Really Need Insurance Coverage?
At one time, California’s confusing laws surrounding cannabis and hemp actually made it harder for hemp growers and harvesters to do business than medical or recreational marijuana growers. However, in 2018, Governor Jerry Brown updated California’s slanted law surrounding hemp and cannabis to allow California farmers to produce non-intoxicating hemp for industrial and commercial uses […]
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How Legal Grow Ops Can Keep Their Crops Covered
It is hard to believe that it has been over 20 years since California legalized the use of medical marijuana. In 2016, recreational use was finally voted in for adult use. Now, the cannabis industry in California and across the U.S. is growing faster than these states can issue licenses. Other states are quickly following […]
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Can Cannabis Dispensaries in California Have Insurance?
It has been over 2 decades since California became the first state in the U.S. to legalize medical marijuana. Currently, anyone over the age of 21 in California can purchase marijuana, whether it is medicinal or recreational. This has led to California issuing over 10,000 licenses from growers to distributors and everyone in between the […]
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What Liability Do Cannabis Product Manufacturers Have?
As manufacturers of cannabis and hemp continue to come up with unique ways to incorporate their product into oils, candies, baked goods, and other edibles, concern for marijuana liability insurance continue to rise. Ensuring that a company that produces any form of cannabis or hemp should be concerned with the correct and appropriate product liability […]
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CannGen Cannabis Program: New Carrier Partner & Enhanced Coverage Offering
To Our Valued Producers: We are pleased to report some additional program modifications and enhancements to our CannGen Cannabis Program. Effective May 1st, we will be offering the following: 3rd Party Care, Custody, and Control Coverage – Warehouseman’s Legal Liability ($1M Limits) Increased Limits on Property Enhancement forms A, B, and C Property in Transit […]
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New Market for Cannabis Workers Compensation!
Next Wave is pleased to announce we’ve rounded out our Cannabis Insurance Program coverage offering by now allowing our agents and brokers access to our exclusive monoline WC program. Backed by A+ rated carriers, we’ll now be able to offer very competitive WC rates tied to an integrated payroll solution for all medical and recreational […]
Read moreUS CA: Column: Are Cannabis Taxes Too High?
Sacramento News & Review, 23 Jun 2011 – As Sacramento Dispensaries Ready to Pay Up, Cities Across the Country Hop on the Pot-Tax Train Next month, medical cannabis dispensaries within Sacramento city limits will begin paying a 4 percent tax on their gross receipts.
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