What calibrated coverage for cannabis looks like for Brands

Cannabis brands transformed the concept of using cannabis-related products to a new level during the past several years. From celebrities branding their own cannabis product line to emerging companies trying to elevate their consumer’s experience, cannabis brands come in many shapes and sizes. However, these brands face similar risks as other retailers, such as legal liability and property damage.

A license to succeed.

State lines. Lines of business. Calibrated coverage means lines of insurance that fit your growth plan.

Due to CBD and THC’s complexity, the liability of consumption on the dispensary is very different from other businesses. Even though the product was not produced in your presence, your risk is the same.

Employees’ accountability while they are at work, has risks and concerns in every business. Covering their worker needs and employment practices could harm your brand if you don’t have the insurance to cover the human element of having employees daily.

The bubble of your brand when you have a retail space starts at the sidewalk of your location. Protecting the retails space, brand, and products help guarantee your business’s health for years to come. Ensuring your business from the exterior to the interior is a great way to manage the cannabis industry’s liability.

A license to succeed.

State lines. Lines of business. Calibrated coverage means lines of insurance that fit your growth plan.

Due to CBD and THC’s complexity, the liability of consumption on the dispensary is very different from other businesses. Even though the product was not produced in your presence, your risk is the same.

Employees’ accountability while they are at work, has risks and concerns in every business. Covering their worker needs and employment practices could harm your brand if you don’t have the insurance to cover the human element of having employees daily.

The bubble of your brand when you have a retail space starts at the sidewalk of your location. Protecting the retails space, brand, and products help guarantee your business’s health for years to come. Ensuring your business from the exterior to the interior is a great way to manage the cannabis industry’s liability.

Testimonials

We’ve found AlphaRoot, particularly Isaac, to be proactive, with spot-on coverage suggestions and hands-on help. Plus, the AlphaRoot online platform eliminates a lot of tedious work we previously had to do for renewals

Dean Kisieu CFO, Arcview

Our previous broker didn’t have sufficient industry knowledge, but Eric is highly professional and knowledgeable. He’s always on top of things, responding faster than I can type. AlphaRoot even checked for gaps in coverage — who wouldn’t want that?

Marina Chumakova CFO, Cannabistry

Core Coverage

General Liability

General liability offers broad protection against some of the most fundamental risks cannabis companies face. Known as “slip-and-fall” or “all-risk” insurance, this policy covers personal or property damage and bodily injury occurring on the business premises.

Product Liability

Cannabis companies offering tangible products or services risk third-party lawsuits claiming bodily injury or property damage. Products liability insurance covers defense fees and settlements, even for ungrounded claims. This coverage is particularly critical in the cannabis space as testing and manufacturing aren’t regulated at the federal level.

Property

This policy is first-party coverage that protects the Total Insurable Value (TIV) of your operation’s property, reimbursing cannabis companies for direct property losses.

Employment Practices Liability

Cannabis companies with any number of employees faces the risks of allegations, such as discrimination, wrongful termination, breach of contract, etc. This coverage protects cannabis companies against lawsuits related to employment practices.

Workers' Compensation

Employers are typically responsible for their medical costs and lost wages when employees sustain work-related injuries. This policy covers these expenses, protecting employees while simultaneously keeping cannabis companies running smoothly.

General Liability

General liability offers broad protection against some of the most fundamental risks cannabis companies face. Known as “slip-and-fall” or “all-risk” insurance, this policy covers personal or property damage and bodily injury occurring on the business premises.

Product Liability

Cannabis companies offering tangible products or services risk third-party lawsuits claiming bodily injury or property damage. Products liability insurance covers defense fees and settlements, even for ungrounded claims. This coverage is particularly critical in the cannabis space as testing and manufacturing aren’t regulated at the federal level.

Property

This policy is first-party coverage that protects the Total Insurable Value (TIV) of your operation’s property, reimbursing cannabis companies for direct property losses.

Employment Practices Liability

Cannabis companies with any number of employees faces the risks of allegations, such as discrimination, wrongful termination, breach of contract, etc. This coverage protects cannabis companies against lawsuits related to employment practices.

Workers' Compensation

Employers are typically responsible for their medical costs and lost wages when employees sustain work-related injuries. This policy covers these expenses, protecting employees while simultaneously keeping cannabis companies running smoothly.

Brand Specific
Coverage

Professional Liability

Professional liability, also known as errors and omissions (E&O) insurance, covers companies in third-party or client lawsuits claiming substandard work or service. Work errors or oversights, missed deadlines, budget overruns, etc., often result in costly cases — but professional liability insurance responds to these mishaps.

Cyber

Cyber insurance protects companies from third-party lawsuits relating to electronic activities (i.e., phishing scams). Plus, it offers many recovery benefits, supporting data restoration and reimbursement for income lost and payroll spent.

Directors & Officers

Shareholders, competitors, investors, etc., can sue a cannabis company’s executives, putting their personal assets at stake. Directors and officers (D&O) insurance protects these assets from lawsuits alleging leaders of wrongful acts managing the business.

Crime

Whether employees steal from you, a thief robs your armored car, or you receive a forged check or fraudulent wire transaction, money theft happens in many ways. Crime insurance guards your cannabis company against damages from these particular crimes.

Professional Liability

Professional liability, also known as errors and omissions (E&O) insurance, covers companies in third-party or client lawsuits claiming substandard work or service. Work errors or oversights, missed deadlines, budget overruns, etc., often result in costly cases — but professional liability insurance responds to these mishaps.

Cyber

Cyber insurance protects companies from third-party lawsuits relating to electronic activities (i.e., phishing scams). Plus, it offers many recovery benefits, supporting data restoration and reimbursement for income lost and payroll spent.

Directors & Officers

Shareholders, competitors, investors, etc., can sue a cannabis company’s executives, putting their personal assets at stake. Directors and officers (D&O) insurance protects these assets from lawsuits alleging leaders of wrongful acts managing the business.

Crime

Whether employees steal from you, a thief robs your armored car, or you receive a forged check or fraudulent wire transaction, money theft happens in many ways. Crime insurance guards your cannabis company against damages from these particular crimes.

Types of Cannabis Brands
That Need Insurance

Medical

Medical cannabis brands serve those with medical conditions using cannabis products as treatments.

Vape Companies

These businesses usually provide consumers with safe and quality vaping products.

Wellness

Wellness brands help individuals learn about the benefits of cannabis with safe and high-quality products.

Medical

Medical cannabis brands serve those with medical conditions using cannabis products as treatments.

Vape Companies

These businesses usually provide consumers with safe and quality vaping products.

Wellness

Wellness brands help individuals learn about the benefits of cannabis with safe and high-quality products.

Read Our Guide

Learn about, common risks in the Cannabis space and how to mitigate them, including licensing, compliance, funding and insurance strategy.

"*" indicates required fields

Name*
MSO Sep

FAQ's