Cannabis Crop and Cultivators Insurance
Medical marijuana crop insurance coverage for small, medium and enterprise-level cultivation operations, including greenhouses and nurseries:
- General Liability Coverage
- Workers Compensation
- Buildings/Equipment/Crops
- Transit/Delivery Coverage
- Theft/Fire/Vandalism
- Wind/Hail/Falling Objects
- Other Standard Perils
- Finished Stock/Marijuana
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Dispensary, Cooperative, Caregiver & Collective Insurance
MMD Insurance offers a range of insurance options for dispensaries, collectives, cooperatives and caregivers including:
- General Liability Coverage
- Property Insurance
- Commercial Vehicle Coverage
- Workers’ Compensation
- Payroll Services
- Financing Available.
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Medical Marijuana Professional Liability Coverage
Protects the insured against claims made by clients for potential negligence or failing to adequately perform contracted professional services.
Sometimes referred to as Professional Liability/Errors & Omissions or Professional Indemnity Insurance, this coverage is typically excluded from a general liability or business owners policy.
Provides protection for attorneys and legal professionals working specifically in the medical cannabis industry.
Product Manufacturers and Cannabis Vendors
Cannabis product developers and commercial kitchens face challenges unique to the cannabis industry. From product liability to stock coverages, MMD Insurance understands the intricacies and details of running and insuring a cannabis business.
- Equipment Breakdown
- Stock Spoilage
- Business Property
- Finished Stock, Marijuana Theft and Fire
- In-Transit/Cargo Coverage
- Product Liability Coverage
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Commercial Auto and Marijuana Delivery
The transport and delivery of medical marijuana stock and related products poses challenges unique to the Cannabis Industry. Don't risk your inventory with inadequate auto coverage. MMD Insurance has designed commercial auto coverages specifically for medical cannabis businesses.
- Limits $15/30 to $1 Million – CSL
- In-Transit/Cargo
- $100-$10,000 Product/Money
- Hired and Non-Owned
- Workers Compensation
- Finished Stock/Marijuana
- Employee Dishonesty
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State Raids and Legal Defense Insurance
Legal Defense Costs Reimbursement applies to arrest or charges brought against the insured by a Governmental Authority arising from the possession, transportation, cultivation or distribution of medical marijuana or marijuana derivatives and for which the insured pleads not guilty and believes they have a legal right to do so under state and local guidelines. The insurer becomes liable to pay incurred fees no sooner than 60 days after the earliest of the following:
- Insured pleads "not guilty" to all charges
- The charges are dismissed
- Insured is found not guilty of all charges
The maximum limit to liability under the Governmental Action Reimbursement Endorsement is $5,000 per occurrence and $10,000 aggregate.
Medical Marijuana Property and General Liability Insurance
MMD Insurance provides comprehensive insurance coverage options for business operating in the medical cannabis industry. Protect your investments with a business insurance program uniquely designed for your industry and your business needs.
- Cannabis Workers' Compensation
- Equipment Breakdown
- Business Property
- Loss of Income
- Money and Securities
- Employee Dishonesty
- Glass Coverage
- Tenant Improvements
- Computer Equipment
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News by State
Increasing Legitimacy in Medical Cannabis Community
While dispensary operations do business under increasing public scrutiny, it’s still the dark ages when it comes to growers. And this impacts the industry as a whole.
With such close public scrutiny and the ongoing debate about medical marijuana and compassionate use, dispensaries and patients reside in a legal “gray area.” Rights are protected to a degree, but slip-ups cost operations valuable time and resources, and tarnish the image of the industry.
To address scrutiny from law enforcement, neighborhoods and government agencies, dispensaries, collectives and cooperatives have begun to set new standards for operations, enlisting the help of business conscious and extremely savvy professionals from other industries.
Dispensary operations standards are being reinforced, in earnest, through the initiatives and involvement of collective operators, lobbyists and industry professionals. These medical cannabis insiders, working with dispensaries and providers of medical cannabis, acknowledge inherent problems. One issue is so pervasive, that collective members/owners like Michael McCauley of Redwood Coast Collective have begun to address the matter using hard-won experience.
Redwood Coast Collective is developing best-practices guidelines for their dispensary operations, from end to end. Enlisting the skills and knowledge of their own collective members, Redwood Coast is developing standards for the cannabis strains they distribute to patients through their operation. “We considered the available medical cannabis certifications,” says McCauley, “but found our own knowledge and cultivation expertise exceeded what was currently set out in the standards.”
M. Max Del Real of California Capitol Solutions echoes much the same sentiment. “There’s considerable gray area in the medical cannabis industry,” Del Real says. As a patient advocate, Del Real works with medical cannabis industry and local and state agencies to “bring increased legitimacy to the movement.” Del Real, whose lobbying, legislation and business efforts have put him on the front-lines of the medical cannabis movement with cities, municipalities and law enforcement states that: “the cultivation of medical cannabis is definitely a public safety concern.”
Storefront dispensaries operate under local municipal business guidelines. According to Michael Aberle, Director of the Statewide Insurance Services National Medical Marijuana Insurance Division, security, safety and staffing are all concerns of a successful business. “We work hand in hand with dispensaries and insurance carriers to address concerns of theft and operations, just as we would with any business,” offers Aberle. “Through the help of our dispensary clients, we’ve been able to develop some tremendous insurance options for dispensaries, increasing their legitimacy, value and viability in the eyes of conservative industries like insurance.” Acceptance by the insurance sector has helped change the perceptions of medical cannabis providers from one of a danger and liability to that of an asset, a necessary service, and potential revenue stream.
But, as these operations continue to increase their legitimacy and presence in cities and neighborhoods, the supply chain remains in what Max Del Real and others still consider that gray area. “Too many cultivators,” according to Del Real, “are still growing in the dark ages and without the legitimacy they deserve.” With growing operations in apartments, basements, or other potentially inappropriate locations, often with faulty wiring and makeshift irrigation systems, Del Real, Aberle and others involved in the industry, including cannabis cultivators themselves, recognize the cultivation concerns and are increasing their efforts – expanding their outreach – to include farmers and urban growers.
Aberle and his specialty insurance division work with a small number of growers to develop insurance coverage appropriate for their cultivation efforts, including insurance for crop loss and transport. Del Real’s initiatives have recently centered on urban revitalization efforts and city-sanctioned indoor cultivation zones.
These efforts will, at least, begin to address concerns of the likes of California’s Attorney General, whose Medical Marijuana guidelines repeatedly address the diversion of supplies (aka cannabis) into the black market. By cultivating industry oversight, professionals working with medical cannabis providers aim to establish quality and cultivation standards, reinforcing the burgeoning medical cannabis industry and eliminating many of the gray areas which now plague patients, providers, law enforcement and municipalities. “We have to be prepared to act,” says Del Real, “and acting means doing what is best for patients and their communities.” Cultivators would be advised to take note.