Cannabis Insurance for Dispensaries

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Comprehensive Cannabis Program

Admiral brokers now have exclusive access to additional lines of business when the Casualty coverage is bound with Admiral. Berkley Connect can provide a comprehensive solution for cannabis risks. One application, one submission, and one family of insurance companies to provide solutions to the cannabis industry.

The Comprehensive Cannabis Program connects you with the expertise of the Berkley companies through a single point of contact, ensuring that you and your clients have a uniform and consistent experience. All products provided are written on A.M. Best rated A+ XV paper giving your clients the confidence they need and deserve from their insurance providers.

Through Berkley Connect, Admiral brokers can now gain access to a breadth of coverages tailored to the needs of the cannabis industry, including:

When obtaining a quote for the Admiral CGL, Admiral brokers are able to request quotes for additional lines of coverage.

View the FAQs on our Comprehensive Cannabis Program.

*Additional coverages are only available when bound with the Admiral CGL policy. Quotes for each line of business are subject to the underwriting guidelines applicable to that line and a CGL quote does not guarantee a quote for other lines.

Property

Berkley Connect can offer quotes for commercial Property coverage that is tailored to the needs of cannabis dispensaries.

Available Coverages:

  • Market Value Coverage for Stock
  • Accounts Receivable
  • Business Income
  • Computer Equipment
  • Covered Property Distance from Premises Increased to 1,000 Feet
  • Equipment Breakdown including Spoilage up to $250,000
  • Employee Theft
  • Extra Expense
  • Fine Arts
  • Fire Department Service Charge
  • Fire Protection Equipment
  • Money and Securities
  • Outdoor Property
  • Outdoor Signs – $10,000
  • Personal Effects and Property of Others
  • Pollutant Clean Up
  • Property in Transit
  • Property Off Premises
  • Reward Payment
  • Spoilage
  • Valuable Papers and Records
  • Walks, Patios, or Other Paved Surfaces, Foundations of Buildings or Structures, and Underground Pipes, Flues or Drains
  • Water Back Up Or Overflow From Sewer, Drain or Sump
  • Wind and Hail Coverage

Maximum Limits

  • $7,000,000 TIV per Location
  • $250,000 Theft

Deductible

  • Minimum Deductible: $5,000
  • Split Deductibles Available

Download the Brochure

Employment Practices Liability

Berkley Connect can offer quotes for Employment Practices Liability Insurance designed to protect cannabis risks and their employees** against liability for claims or lawsuits alleging employment-related wrongdoing.

Download the EPL Supplemental Application for Cannabis risks.

Policy Highlights:

  • Duty to Defend policy language
  • Third party liability coverage for claims brought by non-employees for harassment or discrimination
  • Modified settlement clause (80% / 20% coinsurance)
  • Damages include punitive or exemplary damages up to the limit of liability, where insurable
  • Broadened definition of claim to include tolling agreements
  • Immigration Reform Control Act endorsement (IRCA)
  • Sublimit available for Costs of Defense of Wage and Hour claims
  • Sublimit available for privacy violations

Available Limits

$500,000 to $2,000,000

Deductible

$25,000

Download the Brochure

Risk Management Services

Policyholders receive complimentary loss prevention tools that include a hotline and dedicated website.

  • Toll-free hotline providing basic workplace issue consultations
  • Policyholder accessible website containing articles, sample documents, and loss prevention resources

 

**Firms up 200 employees. Will consider accounts with claims up to $25,000

Workers Compensation

Berkley Connect offers Workers Compensation quotes for cannabis risks at affordable rates with a number of payment options to fit the needs of your customers.

Program Highlights:

  • Workers compensation coverage for cannabis dispensaries, growers, and manufacturers that obtain casualty coverage through Admiral in select states.
  • Eligible states include AL, AR, AZ, CA, CT, CO, IL, MO, MS, NV, PA and VA
  • Coverage is written on Admitted paper with an A.M. Best “A+” rated carrier.
  • EL limits of $1M/$1M/$1M are available.
  • Rating is based on 8017 Retail for recreational dispensaries and 8045 Drugstore for medical dispensaries.

Download the Brochure

Product Recall

Berkley Connect can offer quotes for product recall coverage that is tailored to the needs of cannabis dispensaries.

Download the Cannabis Product Recall Insurance Application for Cannabis risks.

Maximum Limits

$250,000

Self-Insured Retention

Minimum SIR: $2,500

Policy Highlights:

  • Cost to notify others of the recall
  • Cost to recover the product from purchaser, distributor or user
  • Cost to dispose or destroy the recalled product
  • Cost of temporary storage or warehouse
  • Cost of additional personnel other than your employees
  • Cost for overtime wages for your own regular non-exempt employees for work devoted exclusively to the covered incident
  • Costs incurred by your exempt and non-exempt employees including transportation and accommodation costs

Additional Enhancements Offered

  • Cost to repair, replace or refund the product
  • Business Interruption

Download the Brochure

Claims Excellence 

Your claims will be handled by a team that specializes in managing care and helping your employees get back to health and back to work. Through comprehensive investigation of losses and a focus on directing care, injured workers receive the care they need while managing claim costs responsibly. Injured workers have access to a large network of doctors, medical providers, and pharmacies. 24/7 claims reporting and a self-service portal allow customers and agents to file a claim, find a check or get adjuster information at any time.

Request more information about insurance for cannabis risks



Berkley Connect Wholesale Solutions offered by Berkley Connect Insurance Solutions, LLC
[email protected] | CA License 0H99364

Products and services described above are provided through various surplus lines insurance company subsidiaries of W. R. Berkley Corporation and offered through licensed surplus lines brokers. Not all products and services may be available in all jurisdictions, and the coverage provided by any insurer is subject to the actual terms and conditions of the policies issued. Surplus lines insurance carriers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Berkley Connect Insurance Solutions, LLC or its designated licensee conducts business in all states including California as a licensed surplus lines broker (CA License #0H99364).For additional information concerning W. R. Berkley Corporation’s insurance company subsidiaries visit: http://www.wrberkley.com/site-services/legal.aspx

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