Welcome to our first issue, designed to keep you informed about the broad range of risks facing the expanding cannabis industry from consumer and corporate lawsuits. Kanna Knowledge will bring you news and views from experts in our field, including compliance and regulatory issues, current claims data, good facility design and best consumer practices.
Even with the advent of COVID-19, the cannabis industry is growing exponentially. Yet for those operating the businesses, investing their dollars or sitting on boards, the only way to protect against loss of assets is insurance. Because cannabis businesses are regulated by the states, the legal landscape is constantly changing, and multiple insurance coverages are typically needed. These may include:
- Auto/Cargo Liability
- Business Interruption
- Directors & Officers Liability
- Surety Bonds
- General Liability
- Premises Liability
- Product Liability
- Professional Liability for Physicians
- Property Liability
- Worker’s Compensation
Keep in mind that with cannabis being a once illicit market, the largest and most stable insurance companies have chosen to stay on the sidelines — perhaps until Federal law takes cannabis off of Schedule 1 and the FDA can step in. So working with the best available specialty brokers, who have experience in specific coverage areas, is vital.
At Kanna Risk Management, we’re on your side to help with the issues that keep you awake at night. We invite you to keep in touch and give us your feedback on future topics you’d like us to cover. Email us at [email protected].