Cannabis & Hemp Package Program
Offered by Cannasure Insurance Services
Dispensaries Cannabis Cannabis Grow Operations Medical Cannabis Growers Landlords Cannabis Bond Testing Lab Hemp Processors Cannabis CultivatorsDescription
- INSURANCE DESIGNED TO PROTECT + GROW THE CANNABIS INDUSTRY -
Cannasure Insurance Services is the premier, full-service wholesale broker and MGA created exclusively to grow and protect the cannabis and hemp industries. We work with insurance brokers to protect their cannabis and hemp clients’ assets, employees, and customers.
The cornerstone of our package program’s success is our all-encompassing understanding of the cannabis and hemp industry. Our program was built and tailored to fit the specific needs of industry businesses by experts that understand cannabis and hemp risks.
Target Classes:
• Cultivators
• Dispensaries
• Extractors/Processors
• Product Manufacturers
• Testing Laboratories
• Landlords
• Ancillary Businesses – including, but not limited to, Security Firms, Law Firms, Consultants, and Transport Companies
Available Coverages:
Property
- Business Income: + Actual Loss Sustained + Monthly limitation options 1/6, 1/4, 1/3
- Equipment Breakdown Coverage
- Living Plant Material, Goods in Process and Completed Stock Options
- Options include Expanded Property, Transit, Sewer and Drain, Ordinance or Law
- Pesticide/Fertilizer coverages built into form
General Liability
- Premises Liability
- Assault and Battery Coverage (Buyback)
- “Nose” Coverage Available
- Additional Rating Basis Options
Products and Completed Operations
- Product Recall
- Retro Date options with proper documentation
- Meaningful pesticide and fertilizer coverages built in
- Options include $250,000 Product Withdrawal Expense Coverage and a $50,000 Professional Liability Sublimit
- Additional Insured – Vendors Form when required by contract
Excess Property
- Prefer to match underlying limit ($10M xs $10M; $20M xs $20M)
Excess Casualty
- Attaching Excess of $5M, $10M, and $15M over any Cannabis carrier/market
- Excess over Products Liability, Premises Liability or both
Program Features:
- Available Nationwide
- Program Carrier is A.M. Best Rated A- VII
Highlighted Features:
Property
- $45M Per Location Property Capacity
- Standard ISO based forms and Special Cause of Loss for Building, BPP, TI&B
- Can be written as a package or monoline
General Liability
- Up to $6M/$6M General Liability
- Standard ISO Occurrence form with no deductible and defense outside limits
- Numerous Additional Insured forms available with Waiver and PNC as well
- Can be written as a package or monoline
Products and Completed Operations
- Products and Completed Operations up to $5M/$5M
- Standard Claims Made ISO form with $2,500 base deductible and defense within
- Deductibles up to $100,000
Excess Property
- Excess Property up to $20M Per Location
- Will sit over any “A” rated Property carrier
- Prefer to match underlying limit ($10M xs $10M; $20M xs $20M)
Excess Casualty
- $5M Excess of the $5M Primary Limit
Details
Carrier Information
Admitted
Non-Admitted
Rating A-
Rating By A.M. Best
Listing Contact
Jim McErlean Director of Business Development
Offered By
Downloadable Files
Availability 50 states + DC
Covered
Not Covered
