Cannabis Insurance Monterey

Protect Your Business with Cannabis Insurance in Monterey

Though still illegal at the federal level, a growing number of states are taking steps to legalize Cannabis stevia. There are only eight states remaining where the plant is entirely illegal. A total of 28 states have decriminalized it and 22 have legalized it for medicinal use. California is one of 11 states to make cannabis entirely legal for adult recreation and for medicinal purposes.

The cannabis industry is a multi-billion-dollar industry in the U.S. In California alone, 2019 saw $2.5 billion in sales. Entrepreneurs are taking advantage of this growing market, as there is high potential for new businesses. California’s regulatory structure along with inherent risks in the industry pose challenges for new and established businesses. Finding the right cannabis insurance in Monterey can give owners peace of mind, as they navigate uncertain landscapes. The brokers at HUB International can help you obtain cannabis insurance in Monterey tailored to your business’s needs.

The brokers at HUB International remain up to date on the state’s changing regulations, and they understand the risks associated with each component of the cannabis industry. We will walk with you through the breadth of your operations to identify at-risk areas and develop a Monterey cannabis insurance package designed for your business. Our brokers offer solutions to the cannabis industry’s most common issues, including:

Product liability: Ensure your business is protected from one of the industry’s more serious risks: claims against your company due to illness, injury or death as a result of the consumption or use of your product.
Property and Crop: Agricultural production and cultivation come with a unique set of risks, as a single event can result in complete product loss, making this type of coverage imperative.
Product recall: Safeguard your business from the financial damages that can result in the event that the use of your product poses a significant threat to human health and safety or results in property damage.
Management liability: Protecting your company with managers and officers liability, as well as with employment practices liability, is a smart choice for both new and established cannabis businesses.
Equipment failure: Equipment failure can lead to costly damages, including loss of product, making this type of coverage more valuable than many often imagine until something goes wrong.
Care custody and control: Distributors provide an invaluable industry service. When third-party companies transport product, protecting customer cargo is paramount in growing a successful distribution business.

There are additional risks associated with operating any modern-day business. We want to make sure your company is protected in all aspects of operations. Our brokers are experts at risk management, and we can help you secure the right coverages for your business, from workers comp and employee benefits to cybersecurity. When it comes to cannabis insurance in Monterey, we’ve got you covered, so you can focus on the important business of growing your business.