For years, research has shown that cannabis has proven beneficial in treating many ailments from nausea caused by chemotherapy to life-threatening seizures. Laws are starting to catch up to science on the values of cannabis. However, progress is slow, legislation is contradictory at times and there are still detractors that seek to put a stop to legalization. The uncertainty is a risk to the more than 100 licensed cannabis providers in Canada, including those surrounding Okanagan Lake. If you are one of those, you need cannabis insurance in Kelowna.
Risks to the Cannabis Businesses in Canada
The top three perils facing businesses in Kelowna, from our more than 20 vineyards to our legal cannabis businesses, include:
Theft
Cannabis businesses can lose a portion of their product to theft. Customer theft or shoplifting and burglaries are just two risks of product loss from retail establishments. The black market can net thieves a hefty payday where cannabis is illegal or unavailable, and the best way to get a decent supply for some thieves is to intercept deliveries. Unfortunately, a significant loss of product is also due to employee theft.
Tampering
As we've seen in the past, product tampering can cost millions of dollars to businesses, and put their reputation on the line. Whether it is purposeful vandalism or a careless accident, cannabis can be tampered with in retail stores without adequate safeguards. But that's not the only opportunity for tampering, as an unsecured facility can pose a risk of tampering by allowing unauthorized people to gain access. Even after the product has left your establishments, someone seeking to profit on secondary markets can introduce dangerous elements pose a liability for your business unless you have cannabis insurance in Kelowna.
Compliance
Regulation compliance is a constant struggle, as the laws are still emerging and maturing. Legislators have made licensing and compliance so confusing and restrictive that it is all too easy to miss a detail that could shut down your operation. Keeping up with the changes and the strictures of these laws and licensure stipulations can be a full-time job. Non-compliance means hefty fines or inability to continue growing, distributing or selling your product.