Turn to our experts to navigate the insurance complexities of the cannabis industry.
Cannabis Dispensaries Program
Specific solutions for a complex industry.
With the everchanging rules and regulations around cannabis, you need an insurance partner who can help you navigate the risks in this dynamic industry. Breckenridge Insurance can tailor a coverage solution that fits a range of businesses serving this space, including those who sell, grow, manufacture or process products containing greater than 0.3% THC. With an AM Best A+ Rated carrier and the sound approach of experienced underwriting professionals, let us help you access fitting protection for this emerging industry.
Retail Agents: Don’t see a fit for your risk in this program?
Reach out to one of our Breckenridge brokers here.
- AM Best A+ Rated carrier
- Industry knowledge
- Responsive team
- Reliable claims handling
- Retailers/dispensaries with or without on-premises consumption
- Cultivators/growers
- Processors/manufacturers
- Wholesalers/distributors
- Medicinal
- Recreational
- Cannabis paraphernalia and related products
Excluded Classes:
- Temporary events
- Testing labs (considered for professional liability)
- Social clubs
- Maximum limits of $5M/$5M/$5M
- Maximum per location general aggregate limit of $5M
- Minimum premium of $5,000
- Minimum deductible of $2,500
- Coverage for electronic vapes
- Budtender Professional Liability
- Hired non-owned auto coverage available
- Commercial general liability
- Premises liability(occurrence or claims-made)
- Products/completed operations liability (claims-made only, including prior acts)
- Commercial property
- Building coverage, business personal property (excluding outdoor plants), and business income
- Claims-made
- Property and Inland Marine
- Workers’ Comp coverage available in certain states
- Equipment breakdown coverage available
- Product Liability available in the following states – AZ, AK, OR, WA, CO, OK, NV, NM, MD AR, AK, MO, PA, MI & MT
- Cannabis Property Coverage – Provides coverage for cannabis stock, including a valuation clause for plants based on the different development stages of a plant. We allow for limited growing operations as part of the dispensary, subject to state regulations and license requirements
- Cannabis Liability Coverage – Proprietary coverage form addressing cannabis liability exposures, exclusions, warranties etc. Coverage follows the occurrence limit of the policy
- Products Completed Operations can be Occurrence or Claims-made
- Completed application
- Loss runs 3-5 years
- For added coverage options, additional forms may apply
- For prior acts coverage: copy of the current/expiring declarations page (with retroactive date required) and signed proprietary letter (no known incidents for claims-made products liability)
- Startups are eligible with certain considerations
Features
- AM Best A+ Rated carrier
- Industry knowledge
- Responsive team
- Reliable claims handling
Classes
- Retailers/dispensaries with or without on-premises consumption
- Cultivators/growers
- Processors/manufacturers
- Wholesalers/distributors
- Medicinal
- Recreational
- Cannabis paraphernalia and related products
Excluded Classes:
- Temporary events
- Testing labs (considered for professional liability)
- Social clubs
Coverages
- Maximum limits of $5M/$5M/$5M
- Maximum per location general aggregate limit of $5M
- Minimum premium of $5,000
- Minimum deductible of $2,500
- Coverage for electronic vapes
- Budtender Professional Liability
- Hired non-owned auto coverage available
- Commercial general liability
- Premises liability(occurrence or claims-made)
- Products/completed operations liability (claims-made only, including prior acts)
- Commercial property
- Building coverage, business personal property (excluding outdoor plants), and business income
- Claims-made
- Property and Inland Marine
- Workers’ Comp coverage available in certain states
- Equipment breakdown coverage available
- Product Liability available in the following states – AZ, AK, OR, WA, CO, OK, NV, NM, MD AR, AK, MO, PA, MI & MT
- Cannabis Property Coverage – Provides coverage for cannabis stock, including a valuation clause for plants based on the different development stages of a plant. We allow for limited growing operations as part of the dispensary, subject to state regulations and license requirements
- Cannabis Liability Coverage – Proprietary coverage form addressing cannabis liability exposures, exclusions, warranties etc. Coverage follows the occurrence limit of the policy
- Products Completed Operations can be Occurrence or Claims-made
Submission Criteria
- Completed application
- Loss runs 3-5 years
- For added coverage options, additional forms may apply
- For prior acts coverage: copy of the current/expiring declarations page (with retroactive date required) and signed proprietary letter (no known incidents for claims-made products liability)
- Startups are eligible with certain considerations
Contact
Alyssa Manders, CIC, CPL
AVP, Underwriter
Hemp, CBD and Smoke & Vape Shop Programs
Office: (312)521-8969
“Again, I want to thank you for all your help! I really do appreciate it. I don’t think there are many companies out there who would be willing to work with us as much as you did!!”
Insurance Agency Office Manager
From The Blog
Cannabis Dispensaries was last modified: July 2nd, 2024 by