Cannabis, Hemp & CBD Building Insurance

Whether you have a single building with one tenant or multiple tenants in a strip mall, we can provide you with the right landlord insurance, such as:

• Property Insurance for your buildings and appurtenant structures
• Loss of rental income caused by a covered cause-of-loss
• General liability for injury claims that occur on the covered premises
• Commercial umbrella insurance to cover a large liability claim
• Ordinance or law coverage for the undamaged portion of the building
• Optional flood and earth movement coverage

Did you know that a conventional insurance company may be able to deny a claim based on the type of business your tenant is running in your building? Because marijuana remains a Schedule I controlled substance that is federally illegal to produce or sell, most traditional insurance companies have declined to write insurance policies for the commercial cannabis industry. The insurance carriers will not provide building coverage if your tenant is running a cannabis related business. Misclassifying building use could result in an uncovered fire or vandalism loss.

Whether you are a cannabis dispensary, cultivator or a laboratory, property insurance is critical to protect your buildings and assets. We can provide access to property policies designed to insure structures such as buildings and greenhouses, as well as other properties owned by cannabis business operations.

Property insurance can also provide coverage for:

• Inventory: This includes cannabis, edibles, CBD products, and non-cannabis products as well.
• Business personal property: The moveable items which are owned by your business and can include things like office supplies, furniture, computers, and machinery. If it isn’t part of the building, it is included as business personal property
• Building: The structure which houses everything you need or use to run your company.
• Tenants’ betterments and improvements: These are the fixtures, alterations, installations, or additions to the building that you occupy but do not own.
• Money and securities: All your profits and other monetarily important items in your facility.
• Outdoor property: This includes things like fencing and signage used on the exterior of your building.
• Personal effects of others: Anything left in the care and custody of the insured (you as the business owner) but is not your own property. This can be items that your employees own and store in the workplace.
• Employee dishonesty: As much as we hate to admit it, sometimes there is an employee or group of employees who are not looking out for the good of the company and set out to commit fraudulent acts which may result in financial loss. Our property insurance will cover that as well.

Bodily Injury

Even when the best practices are maintained, accidents and injuries can still happen. CannaCorps provides access to general liability insurance that can cover claims by third parties for bodily injuries. If you work in an office, store or even at a customer’s location, general liability coverage can protect you from lawsuits and claims.

Medical Expenses

If an accident happens and someone other than you or an employee is injured, your general liability policy can cover the associated medical expenses for each injured person. Protect yourself and your cannabis business with a general liability insurance policy.

Property Damage

Damage to someone else’s property, whether caused by you or one of your employees, can potentially create huge expenses that you as a business owner would be responsible for. Therefore it is wise to protect yourself and your business with a general liability insurance policy.

Legal Fees

Legal fees are expensive if you do not have a plan in place for your defense. Your general liability insurance policy can cover legal costs on your behalf reducing your limit of liability.

Additional coverages may include:

Motor Truck cargo

An inland marine form covering loss of property in the course of transit, either by common carrier or on the insured's own vehicles, depending on the form used.

Management Liability

Covers exposures faced by directors, officers, managers, and business entities that arise from governance, finance, benefits, and management activities (also called "executive liability insurance"). This includes

1. directors and officers (D&O) liability insurance
2. employment practices liability (EPL) insurance
3. fiduciary liability insurance, and
4. "special crime" insurance (covering kidnap, ransom, and extortion exposures).

These coverages may be written as stand-alone insurance policies or combined into a single, "package" policy.

Commercial Auto

Auto — as the term is currently defined in Insurance Services Office, Inc. (ISO), commercial auto and commercial general liability (CGL) insurance policies, any land motor vehicle, trailer, or semi trailer designed for travel on public roads; or any other land vehicle that is subject to a compulsory or financial responsibility law or other motor vehicle insurance law where it is licensed or principally garaged.

Excess Liability

a policy issued to provide limits in excess of an underlying liability policy. The underlying liability policy can be, and often is, an umbrella liability policy. An excess liability policy is no broader than the underlying liability policy; its sole purpose is to provide additional limits of insurance.

Cyber and Privacy Insurance

A type of insurance designed to cover consumers of technology services or products. More specifically, the policies are intended to cover a variety of both liability and property losses that may result when a business engages in various electronic activities, such as selling on the Internet or collecting data within its internal electronic network.

Errors and Omissions (E&O) Insurance

An insurance form that protects the insured against liability for committing an error or omission in performance of professional duties. Generally, such policies are designed to cover financial losses rather than liability for bodily injury (BI) and property damage (PD).

Directors and Officers (D&O) Liability Insurance

A type of liability insurance covering directors and officers for claims made against them while serving on a board of directors and/or as an officer. D∓O liability insurance can be written to cover the directors and officers of for-profit businesses, privately held firms, not-for-profit organizations, and educational institutions. In effect, the policies function as "management errors and omissions liability insurance," covering claims resulting from managerial decisions that have adverse financial consequences.

Employment Practices Liability Insurance (EPLI)

A type of liability insurance covering wrongful acts arising from the employment process. The most frequent types of claims covered under such policies include: wrongful termination, discrimination, sexual harassment, and retaliation. In addition, the policies cover claims from a variety of other types of inappropriate workplace conduct, including (but not limited to) employment-related: defamation, invasion of privacy, failure to promote, deprivation of a career opportunity, and negligent evaluation.