Cannabis Insurance
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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
- Get A Quote Now »
News by State
Product-Related Accidents Claim More Than Cash
Do you have an extra $1 million in cash for legal defense? Nearly 34 million people are injured or killed from product related accidents every year, and drug-related product liability claims are on the rise.
In the rapidly evolving medical cannabis industry this liability extends beyond the cliché “pot brownie” to include a wide range of edibles, topicals, beverages and more. The dispensary, wholesaler and manufacturer could potentially pay millions of dollars for a product liability claim.
Drug-related product liability claims come in three basic varieties: claims based on defectively manufactured pharmaceutical drugs; pharmaceutical drugs with dangerous side effects (even though properly manufactured); and improperly marketed pharmaceutical drugs. Tens of thousands of product injury lawsuits are filed each year. Moreover, an increasing number of companies are claiming that they have pulled established products off the market and halted research on promising products for fear of liability. To protect your business, NOLO.com, an online publisher of do-it-yourself legal materials, suggests insisting all potential defendants in the chain of distribution to carry liability insurance.
Dispensary operators should consider requiring their manufacturers carry a minimum of $1M in product liability coverage with no exclusion to health hazard. Such measures can protect dispensaries from loss and help promote safety standards in this emerging industry.
According to Claire Andre and Manuel Velasquez, authors of Who Should Pay? The Product Liability Debate, injuries from product-related accidents are the major cause of death for people ages 1-36, outnumbering deaths from cancer or heart disease. The estimated cost of these injuries is $12 Billion annually. As the number of claims have risen, so too have the number of companies forced to file bankruptcy because of massive suits.
Don’t leave your business unprotected. Consider adding product liability coverage to your insurance policy today. Contact a qualified insurance company with experience representing the needs of business and potential defendants.