Cannabis Insurance

Professional liability is a type of liability coverage designed to protect traditional professionals against liability incurred as a result of errors and omissions in performing their professional services. It is an important part of the cannabis insurance program. Available coverage include coverage for testing labs, $1,000,000 to $5,000,000 limits available, and defense costs. In addition, cyber liability insurance is a type of insurance designed to cover consumers of technology services or products. More specifically, the policies are intended to cover a liability and property losses from electronic activities, data breach and more.

World Insurance covers every business along the cannabis industry supply chain - from growers to dispensaries to cannabis-adjacent businesses. We take the time to understand you and your business so you get the right coverage and the best protection.

Cultivators (indoor, outdoor and greenhouses), third party processors/harvester, manufacturers, wholesale distributors, transporters, processing operations using co2 or butane extraction, retailers, and landlords – LRO.

Property insurance protects against your equipment, point of sale system, inventory (harvested property), property, and many other items you may have in your dispensary resulting from covered perils such as theft, fire, smoke, explosion, equipment breakdown, water damage, vandalism, hail, and wind. Available coverage includes: coverage limits to $30,000,000 per location, real & business personal property, cannabis inventory (finished product), crop coverage, business income, employee dishonesty, equipment breakdown, property in transit, property off-premises, spoilage, valuable papers & records, outdoor property (fencing, signs, trees, shrubs, plants), and personal effects of others.

Workers compensation provides medical expenses, lost wages, and rehabilitation costs to employees who are injured or become ill "in the course and scope" of their job. It also pays for death benefits to families of employees if such an incident were to happen. Typical coverages include: Minimum payroll of $75,000 & minimum premium of $5,000, no net rate requirement, insured must have a state bank or credit union banking relation, and new ventures are considered & underwritten on a case by case basis.

General Liability is a broad form coverage protecting you from liability claims for bodily injury and property damage arising out of premises, operations, products, completed operations, advertising and personal injury liability. Products Liability offers protection against financial loss arising out of the legal liability incurred by an insured because of injury or damage resulting from the use of a covered product. Insurance for your product as it departs your facility is vital for the long-term success of your business. Available coverage includes: bodily injury & property damage liability, personal & advertising injury, medical payments, products completed operations, damage to premises rented to you, and $1,000,000 per occurrence and $2,000,000 aggregate limits available.