Is your cannabis insurance program adequately protecting your business?

The complexities surrounding the cannabis industry affect everyone from growers and dispensaries to retail shops and other adjacent businesses. Whether you focus on indoor, outdoor, or greenhouse grows, we can help tailor a cannabis insurance plan that protects you from injury caused by your product, damage to your property or crops, environmental or pollution mishaps, stolen customer data, and much more. Let us help you relax knowing you are protected so you can focus on growing your business.

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Our cannabis insurance team understands your unique risks and will customize a quality program.

Protect Your Business

  • General liability up to $10M
  • Commercial umbrella and excess
  • Product liability limits up to $10M
  • Pollution liability
  • Commercial property
  • Finished stock and inventory
  • Crop coverage
  • Equipment breakdown
  • Employment practices liability
  • Management liability
  • Errors & Omissions
  • Crime insurance
  • Business interruption
  • Business income
  • Cyber insurance
  • Commercial auto and trucking
  • Cargo coverage
  • Inland marine

Protect Your Employees

  • Workers’ compensation
  • Directors & Officers
  • Medical and dental insurance
  • Life, disability, and longterm care
  • Ancillary benefits
  • 401(k) plans
  • Payroll & HR solutions
  • Safety consulting and loss control
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The World Difference

World’s cannabis team has more than a decade of experience customizing risk management programs for all areas of the cannabis industry. 

Our extensive industry carrier partnerships allow us to provide our clients with exceptional coverage at competitive rates. In addition to comprehensive coverage at an affordable cost, our customer service model ensures you have an extraordinary customer service experience from your first interaction through to the closing of a complex claim, and everything in between.

Exceptional Service Experience

  • Current plan review and consultation
  • Exposure identification and analysis
  • Coverage and cost analysis
  • Loss control services and safety training
  • In-house claims advocacy services
  • White-glove customer service experience
  • Direct access to your World service team

Our Areas Of Specialization

Cultivation

As a grower, protection for your plants during all growth stages is critical. Our crop insurance covers living plant material from seeds to flowering plants, harvested plant material in the drying and curing process, and finished stock ready for sale. You are also on the hook for the product after you sell it should there be a liability loss at the dispensary. Your facility and equipment need protection from theft, fire, explosion, building collapse, vandalism, and weather-related events. And you should protect yourself from pollution mishaps and equipment breakdown.

Manufacturing

If you manufacture cannabis and hemp edible products and concentrates, you need to protect yourself from product liability and/or recall should your product cause harm or injury to a consumer. You also need to protect yourself from pollution mishaps, equipment breakdown, and protect your physical building and equipment from theft, fire, explosion, building collapse, and vandalism.

Dispensary

Operating a dispensary comes with a broad set of risks. You need to protect yourself from product liability if someone gets sick or injured, bodily injury to visitors on your premises, employee work-related injuries, and damage to your building and its contents whether by theft, fire, explosion, building collapse, or vandalism. As a small business owner, you also need to protect yourself from supply chain interruptions, lost income from business interruption, false advertising/libel claims, cyber exposures and stolen customer data, and even credit card processing breaches.

Laboratory

Labs have two distinct risks that require protection—the building and equipment, and the professional work that is conducted. The building and equipment need protection from theft, fire, explosion, building collapse, vandalism, replacing or repairing broken equipment, and environmental or pollution exposures. The professional work conducted in the lab needs to be protected from testing mistakes, errors and omissions while verifying product levels or pollutants, and other professional negligence that causes harm or injury.

Delivery & Transport

Moving cannabis has unique risks that require the right type of commercial insurance protection. Whether you are a delivery-only dispensary or a transport and delivery service, you need to protect yourself from accidents, theft, injury to others, property damage, cargo damage, and even employee claims.

Landlord/Building

Whether you are a property owner, renter, or landlord, acquiring and maintaining property insurance is difficult for the cannabis industry. The building, equipment, and other contents all require protection from theft, fire, explosion, building collapse, vandalism, and weather-related events. You also need general liability protection to protect yourself from bodily injury to visitors on your premises and property damage resulting from your products or operations.

FAQ About Cannabis Insurance

What does cannabis business insurance cover?

Cannabis insurance is a type of coverage tailored to the unique risks and needs of cannabis operations. Cannabis businesses face a variety of unique risks such as crop loss, regulatory compliance, and product liability. Depending on your specific business, your cannabis insurance program will be tailored accordingly. Dispensary insurance, for instance, can provide more coverage for damage to finished stock and product liability. While a growing facility will require more specific cannabis product insurance relating to crop insurance and weather-related events. Cannabis property insurance can provide comprehensive coverage for facilities and commercial property where cannabis is grown and/or sold. Our cannabis insurance team will help you understand the unique needs of your cannabis business.

Why do cannabis businesses need insurance?

Cannabis businesses across the product lifecycle face unique risks related to the industry. It is not as straightforward as your typical agriculture or retail venture due to federal and state laws, regulations, and product liability. Experienced cannabis insurance advisors can help you identify the needs of your business and tailor a cannabis insurance program specific to your unique risks. 

Does World offer exclusive cannabis insurance coverage?

World offers cannabis insurance for businesses along the entire cannabis industry supply chain — from growers and dispensaries to cannabis-adjacent businesses. We take the time to understand you and your business, so you get the right coverage with quality protection that is right for your specific business.

What general and product insurances make sense for a cannabis insurance program?

General liability is a broad form coverage protecting you from liability claims for bodily injury and property damage. Products liability offers protection from claims due to injury or damage resulting from the use of a covered product. Both are important for your business given the unique nature of your product.

Are professional liability and cyber liability insurances needed for a cannabis insurance program?

Professional liability is designed to protect traditional professionals from errors and omissions in the course of providing advice and/or opinions while performing their professional services. Depending on your specific business and role, it could be an important part of your cannabis insurance program. Cyber liability insurance protects your business should you suffer a data breach or hack and your customers data or credit card information is stolen. Again, depending on your type of cannabis business, this could be extremely important.

What does property insurance cover for the cannabis business?

Property insurance protects your equipment, point of sale system, inventory (harvested property), property, and many other items you may have in your dispensary from covered perils such as theft, fire, smoke, explosion, water damage, vandalism, hail, and wind. It is an important coverage for any business that has a physical building and property of any kind.

What does workers compensation insurance cover for the cannabis industry?

Workers compensation is a legal requirement in most states that have employees. It provides protection for employees that are injured or become ill on the job. 

What are approved classifications for cannabis insurance?

Some approved classifications for cannabis insurance policies are cultivators (indoor, outdoor and greenhouses), third-party processors/harvester, manufacturers, wholesale distributors, transporters, processing operations using co2 or butane extraction, retailers, and landlords – LRO.