Due to legal restrictions, insuring the cannabis industry has been challenging. For example, a landlord who rents retail space to shop selling cannabis, recreational or medical, is forced into the excess and surplus lines market. This mean the the typical types of companies in this space work through Lloyds of London and similar type programs.
Particular policies of note, that we recommend for business in the cannabis space are product liability and professional liability (budtender's coverage). It's also important to keep in mind if you are a property owner looking to lease space to a cannabis business, your standard insurance company will not stay on the property and you will have to find a carrier in the cannabis insurance market to insurance your building, even if it's one tenant of several.
This type of coverage protects a business from lawsuits arising from faulty products:
This type of coverage would be considered, "Budtenders" liability insurance:
If you own the property hosting a cannabis dispensary or a related cannabis service, learn more here: