Even though the cannabis market provides a great deal of opportunity for the insurance market, carriers are still wary due to the substance’s classification as a controlled substance on the federal level, according to Insurance Journal.
As a result, Insurance Journal also indicates that existing coverage is currently limited. They explain that insurers are just entering the market with basic policies that include commercial general liability, property liability and product liability. The limits are around the $1 million to $ 2 million rage, however they can be higher and cover more than just general liability, property liability, and product liability.
Nonetheless, Benzinga identifies insurance companies that are available in a number of states. For example, the main companies that it identifies include:
Some of these companies provide companies in all 50 states, such as SafeHerb, Admiral Insurance Cannabis Insurance, Cover Cannabis, and 420 Insurance.
Benzinga identifies several types of policies, such as cultivation insurance, dispensary insurance, manufacturing insurance, building insurance, delivery and transport insurance, laboratory insurance, product liability, and Hemp-CBD Insurance.
Further, the cost of insurance varies not only on the type of policy, but upon other factors. For example, the price can be influenced by past need for insurance, the types of coverage selections, the complexity of the cannabis business, and the size of the business. Usually, larger and more complex businesses with higher liability risks will require costlier policies.
The Condor CBD Gummies have been the talk of the hemp-derived cannabidiol edibles as of…
Delta 8 THC is a naturally occurring cannabinoid commonly produced from hemp-derived CBD. It’s relatively…
With more people turning towards natural remedies in recent years, mushroom supplements have taken the…
The Circle Labs CBD Balm is extracted using a cold-infusion process and is an effective…
If anyone is looking for a CBD supplement that is packed with all the necessary…
If anyone has been searching the internet for all the benefits of CBD and where…