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Managing Risk in the Cannabis Industry
Starting a business and keeping it operating day-to-day can be a challenge. For the cannabis industry, this is especially true, as unique obstacles can quickly become roadblocks. Understanding how to minimize your risk (and how to prepare yourself for the unexpected) can be critical to the survival of your cannabis business. Here are a few […]
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Unique Issues Facing Medical Cannabis Businesses
Medical marijuana businesses experience a number of roadblocks that set them apart from other consumer-facing businesses. These issues range from strict regulations and artificially-restricted consumer bases as well as limited access to business services. With the potential to limit successful growth, these challenges must be acknowledged. Here we will look at the common issues medical […]
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Top Insurance Coverage for Cannabis Dispensaries
As the most public-facing aspect of cannabis operations, dispensaries face specific levels of risk that other cannabis companies may not. That makes it critically important to secure the right insurance policy to protect your assets. To that end, let’s look at the top insurance coverages for your cannabis dispensary. Property Coverage As a cannabis dispensary, […]
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Can I Protect My Hemp and CBD Supply Line?
With its formal legalization due to provision in the 2018 Farm Bill, hemp is prepared to grow into a major U.S. crop. With the most prominent consumer use continuing to be CBD oil, the cash crop is drawing countless brands to market, intent on filling consumer demand. If you’ve recently entered into the hemp and […]
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What are My Legal Obligations for Insuring My Cannabis Company?
You already know it is a good idea to insure your cannabis business, but with the cannabis industry continuing to exist in a legal gray area, it isn’t always clear which path is the right one to best protect your assets. Conflicting state and federal laws add further difficulty in knowing just what insurance coverage […]
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D&O Coverage: Who Needs It and Why
Fear over potential lawsuits can make it difficult for officers, board members, and advisory teams to confidently conduct their duties without fear of asset loss from potential liability. D&O policies cover your organization and its management in the face of financial penalties as a result of a lawsuit, freeing them to make necessary operating decisions. […]
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Cannabis Auto Policies: Why You Should Have Non-Owned Auto Coverage
The cannabis supply chain has many moving parts, with cannabis cultivators transporting the harvested plant to processors, manufacturers, third party testing labs, distributors, and finally, to the retailers selling the many types of cannabis products to consumers. At any point during transit, your property may be at risk of theft or damage. If you rely […]
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Cannabinoid Differences and How They Affect Insurance Coverages
You work hard to build your business, so you want to make sure it is protected when the unexpected happens. Yet, with all the legal uncertainty surrounding cannabis products in the U.S., how can you be sure the insurance coverage you need is available to your business? The truth is that the cannabinoids present in […]
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The Uncertainty Around Cannabis Insurance for Delta-8 THC Products
Delta-8 THC has exploded in popularity recently as consumers look beyond delta-9 THC and CBD for beneficial cannabinoid products. Yet, there is concern about delta-8 THC’s legal status, and although retailers are offering delta-8 THC products, regulatory issues are preventing ancillary industries like insurance and banking from providing services. Let’s take a look at delta-8 […]
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Cannabis Compliance Risks & How To Avoid Them
In a highly regulated space like the cannabis industry, businesses need to be aware of pertinent laws and work to operate within them. However, the legal status of cannabis is ever evolving as new markets come online and established markets refine their regulations, making staying compliant a challenge. What to Know About Cannabis Compliance In […]
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